Chinese AI Lab Readies Largest Open-Weight Model

Moonshot AI plans to release Kimi K3, an open-weight model with between 2 trillion and 3 trillion parameters, within days. The model is expected to perform at the level of or surpass leading closed-source systems. Financial Times reported the details, citing anonymous sources. The company previously released Kimi K2 models that ranked high on open-source benchmarks.

Moonshot is raising fresh capital in a round that would value the company at $31.5 billion. In May the company raised $2 billion at a $20 billion valuation.

The planned release comes amid debate over the cost of closed-source models from labs such as OpenAI and Anthropic. Some executives are recommending that companies adopt open-source alternatives and fine-tune them internally. Executives have expressed concern that data submitted to closed-source services could be used for further training.