Moonshot AI is targeting $2 billion in annualized revenue by year-end, roughly double its reported $1 billion revenue run rate in August. Growth has followed the launch of the Kimi K3 model, which OpenRouter currently shows generating as many as 300 billion tokens daily despite a recent moderation in usage. Moonshot’s projected revenue remains well below recent figures reported for OpenAI and Anthropic, at $40 billion and $65 billion respectively. Because Moonshot makes its model weights freely available, it operates with lower margins than closed-weight competitors. Anthropic has accused Moonshot of running a long-term model-distillation campaign that routed nearly 300,000 Kimi requests to Claude Opus and collected more than 23 million Anthropic model responses for training. Earlier reporting described the revenue target as $2 billion by the end of 2026, while the latest report frames it as a year-end goal.