Moonshot AI paused Kimi K3 subscriptions after a sixfold demand surge, as the $20B startup prepares for a Hong Kong IPO targeting over $30B valuation.

Moonshot AI launched the Kimi K3 model, challenging U.S. competitors. Anthropic's valuation hitting $1.25T by December at 91% YES.

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