Moonshot AI is in preliminary discussions with Microsoft, Amazon and Google to offer its 2.8-trillion-parameter Kimi K3 model through Azure, AWS and Google Cloud in exchange for as much as 30% of related service revenue. The companies are still negotiating revenue splits, data access, auditing and usage measurement, and no agreements are assured. K3 costs $3 per million uncached input tokens and $15 per million output tokens, while Artificial Analysis rates it alongside OpenAI's GPT-5.5 and Anthropic's Claude Opus 4.8 and Arena.ai ranked it first in a web-interface benchmark. The talks come as Moonshot, founded in 2023 and backed by Alibaba, pursues a potential Hong Kong listing near a reported $50 billion valuation after raising more than $2 billion in May. They also coincide with possible U.S. blacklist or Entity List action over allegations involving model distillation and restricted Nvidia chips, which Moonshot denies. Separately, Microsoft shares rose 1.05% to $501.49 amid a new partnership with Saudi-backed HUMAIN and broader software-sector strength.