Beijing-based AI startup Moonshot has targeted a US$50 billion valuation ahead of a potential Hong Kong initial public offering this year. (Reuters pic)BEIJING: Moonshot AI is poised to make its Kimi K3 model available for public download, expanding its reach and influence in the global open software community at a time of growing US concern about Chinese encroachment into the top echelons of AI development.The Beijing-based company is due on Monday to release the model’s weights, which are used to steer artificial intelligence systems toward answers. That will enable developers to download, tweak and host the technology freely in a move to broaden the user base of Moonshot’s AI.
Founder Yang Zhilin has said he wants to win users by focusing on openness and greater availability than competing US proprietary systems.Kimi K3’s initial announcement and benchmark performance triggered a selloff in AI-related stocks this month, as it demonstrated Chinese-made models are closing the gap on American leaders OpenAI and Anthropic PBC.Much like DeepSeek’s release in early 2025, the K3 debut was taken as evidence that Chinese companies can keep pace on a smaller budget and with fewer cutting-edge resources than rivals with full access to Nvidia Corp. AI accelerators.Monday’s release may boost business for cloud AI computing providers who specialise in hosting third-party open models. Made-in-China AI models have surged in global popularity in recent times, led by DeepSeek, as they offer more affordable rates and comparable performance to US offerings.Daily sales at Moonshot have surged at least sixfold since K3’s debut, Bloomberg News has reported.
The Beijing-based startup is riding that momentum as it seeks a new funding round at a US$50 billion valuation ahead of a potential Hong Kong initial public offering as soon as this year.
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