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Kimi.ai halts new subscriptions as demand surge prompts plan overhaul

Kimi.ai halts new subscriptions as demand surge prompts plan overhaul

Moonshot AI paused new Kimi K3 sign-ups after demand strained GPU capacity, while Bloomberg reported the startup is pursuing a Hong Kong IPO, new funding and broader infrastructure expansion.

Fact Check
The claim is directly and fully corroborated by the primary source: Kimi.ai's official X account (@Kimi_Moonshot) statement, which explicitly says Kimi K3 demand pushed GPUs close to current capacity limits over the past 48 hours, prompting a temporary pause on new subscriptions while adding capacity and splitting membership into two plans. Independent crypto/tech news outlets (Odaily, BlockBeats) report the same details and cite the official post. All key elements of the claim—48-hour demand surge, GPU capacity strain, subscription pause, and membership reorganization—are verified.
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Summary

Moonshot AI temporarily stopped accepting new Kimi.ai subscriptions on July 19 after demand for its Kimi K3 model nearly filled available GPU capacity within 48 hours of launch, prompting the company to prioritize existing members and reopen access gradually as more infrastructure comes online. The startup also split paid plans into a general Kimi Web/App/Work membership and a separate Kimi Code Membership to better manage compute demand, while saying existing subscribers are unaffected and full K3 weights remain scheduled for public release on July 27. Bloomberg separately reported that Moonshot AI has circulated a shareholder resolution for a possible Hong Kong IPO within roughly six months and is completing a funding round that could value it above $30 billion, up from a Meituan-led $20 billion valuation in May. The company said annual recurring revenue reached $300 million in June, up from $200 million in April, with daily sales reportedly rising at least sixfold after K3 launched.

Terms & Concepts
  • open-weight model: An AI model whose trained parameters are publicly released so others can download and run it.
  • GPU: Graphics processing unit used for AI computing.
  • annual recurring revenue: Forward-looking measure of repeat yearly sales