Moonshot AI targets US$2 billion annualised revenue by end of 2026
The China-based lab’s K3 open-weight model is driving usage, while Anthropic has alleged a large-scale model-distillation campaign.
Moonshot AI is targeting US$2 billion in annualised revenue by the end of 2026, according to Bloomberg reporting cited by TechCrunch. The figure would be double the company’s reported revenue run rate in August.
The target follows the release of Moonshot’s K3 open-weight model this summer. OpenRouter data cited by TechCrunch indicates K3 models may be generating as many as 300 billion tokens a day on the system, although usage has declined slightly in recent months.
Moonshot’s model weights are freely available, a structure that generally produces lower margins than closed-weight competitors. Recent reports cited by TechCrunch put OpenAI’s revenue at about US$40 billion and Anthropic’s at about US$65 billion, though the figures are not directly comparable audited measures.
The revenue target remains a projection rather than confirmed achieved revenue, and Moonshot AI’s own confirmation was not provided in the source material.
Anthropic has accused Moonshot of running a long-running model-distillation campaign involving requests routed from Kimi to Claude Opus. Anthropic alleged that more than 23 million responses were collected from its models for use in Moonshot’s training. The claims remain allegations, and no response from Moonshot AI was included.
