Moonshot AI raises $2B at $20B valuation
beijing-based moonshot ai secured $2 billion in funding led by meituan's vc arm, lifting its valuation to $20 billion. the company, founded by ex-meta researcher yang zhilin, hit $200 million in annual recurring revenue in april. its kim k2.6 model ranks as the second-most used llm on openrouter, competing with openai and anthropic.
Moonshot AI closed a $2 billion funding round led by Meituan’s Long-Z Investment, reaching a $20 billion valuation. The Beijing-based lab has raised $3.9 billion over the past six months and achieved $200 million in annual recurring revenue in April. Founded by former Meta AI researcher Yang Zhilin, the company gained prominence with its open-weight Kimi models, particularly the K2.6, which currently ranks as the second-most used LLM on OpenRouter. The funding surge reflects growing investor interest in Chinese open-source AI labs, with competitors like Zhipu AI and MiniMax seeing significant market cap gains in Hong Kong.