Moonshot announced a $2bn raise at a $20bn valuation in May.
China is showcasing its AI prowess despite restrictive policy efforts from Washington, with Moonshot AI’s new Kimi K3 boasting a performance close to OpenAI and Anthropic’s latest models in various benchmarks.
At 2.8trn parameters, Kimi K3 is the largest open-weight AI model available on the market today. The multimodal model is designed for frontier intelligence across long-horizon coding, knowledge work and reasoning, according to its maker.
Across cited benchmarks, K3 trails behind only OpenAI’s new GPT-5.6 Sol and Anthropic’s Fable 5, while outperforming them in certain coding and general agent tasks. Kimi said that K3 performed “competitively” with Fable 5 and “substantially outperformed” Opus-4.8, GPT-5.6 Sol and GPT-5.5.
K3 is also the cheapest of the three cutting-edge models, at around $0.94 per Artificial Analysis intelligence index task and $15 per million output tokens. GPT-5.6 Sol (max) costs around $1.04 per task while Claude Fable 5 makes a significant leap to around $2.75 per task.
