Moonshot AI pauses new Kimi K3 subscriptions after demand surges sixfold, pushing ARR to $300M as the company targets a $30B Hong Kong IPO within six

Moonshot AI's Kimi K3 model rattled global markets, sending rival AI stocks down as much as 27% while raising questions about AI sector valuations.

Moonshot AI targets a Hong Kong IPO at a $20-30 billion valuation as its Kimi K3 model outperforms US rivals, triggering sell-offs in tech stocks and