Moonshot AI is targeting $2 billion in annualised revenue by the end of the year as the Chinese AI company looks to turn growing demand for its open-weight Kimi K3 model into stronger commercial results.
The target would be roughly double Moonshot’s reported August revenue run rate, Bloomberg reported. The goal follows the release of K3 this summer and reflects the model’s rapid adoption among developers and AI users.
Kimi K3 usage remains substantial
Usage has eased from earlier peaks, but OpenRouter data shows Kimi K3 models generating as many as 300 billion tokens per day on the platform.
Moonshot’s revenue remains far below that of leading closed-model AI companies. OpenAI’s annualised revenue reportedly surpassed $40 billion, while Anthropic has recently been reported at about $65 billion. Moonshot also operates with a different business model because Kimi’s model weights are freely available.
Anthropic raises distillation allegations
Moonshot is also facing scrutiny over how it developed its models. In a September threat intelligence report, Anthropic accused Moonshot of conducting a large-scale model distillation campaign involving Claude.
Anthropic alleged that nearly 300,000 Kimi requests were routed directly to Claude Opus and that more than 23 million responses from Anthropic models were collected for use in training. Moonshot’s reported revenue ambitions therefore arrive alongside both strong commercial momentum and fresh questions about its model-development practices.
