capital · May 16, 2026
Moonshot AI Raises $2B at $20B Valuation as Open-Source AI Demand Surges
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Moonshot AI raised $2 billion at a $20 billion-plus valuation in a round announced around May 7, 2026. The Beijing-based open-source AI developer behind Kimi models attracted major capital from Chinese investors including Meituan’s Long-Z Investments. Moonshot AI valuation quadrupled from $4.3 billion at the end of 2025 in under six months. Annual recurring revenue reached $200 million in April 2026. Kimi K2.5 model matches performance of Claude Opus on several benchmarks at roughly one-seventh the price.
Spend governor blocked model creation: provider_circuit_open (lane=dev, provider=together)