Moonshot’s Kimi K3 expected to be China’s largest open-weight AI model with 2T–3T parameters

Moonshot AI’s next-generation model, Kimi K3, is expected to perform at or above the level of Anthropic’s Opus 4.8, according to reporting by the Financial Times. The expectation is based on anonymous sources cited by the FT.

Kimi K3 is reported to be the largest open-weight AI model developed in China, with a parameter count between 2 trillion and 3 trillion. This scale positions it among the largest openly released models globally and underscores Moonshot’s ambition to compete with top-tier closed-source systems.

The model is slated for release in the coming days, per the FT’s sources, which would mark a rapid follow-up to Moonshot’s prior Kimi K2 series. The K2 models have already achieved strong benchmark performance and are widely used in the open-source AI community.

In parallel, Moonshot is reportedly raising a new funding round that would value the company at $31.5 billion. This follows a $2 billion raise in May at a $20 billion valuation, reflecting investor confidence in Moonshot’s trajectory and the strategic importance of its model releases.

The reported push for Kimi K3 comes amid ongoing industry debate over the value and risks of closed-source AI models. Some executives advocate for open-weight alternatives, citing concerns about data privacy and control when using proprietary systems like ChatGPT or Claude.