Moonshot AI Secures $2B at $20B Valuation

Chinese AI lab Moonshot AI has raised $2 billion in funding at a valuation exceeding $20 billion, in a round led by Meituan's venture capital arm. The investment follows the recent release of Kimi-K2.6, an open-source large language model with approximately 1 trillion parameters. Moonshot AI also develops specialized models including Kimi-VL for visual data processing and conducts foundational AI research. Its paid chatbot service Kimi has generated over $200 million in annualized revenue. Rival DeepSeek is reportedly in talks to raise its first outside funding at a $45 billion valuation.