Moonshot AI, the Chinese AI lab behind the Kimi assistant, is targeting $2 billion in annualized revenue by the end of the year, according to a Bloomberg report published Friday. That figure would double the company’s reported revenue run rate for August, an aggressive goal tied to the release of its open-weight K3 model this summer. OpenRouter data cited in the report shows as many as 300 billion tokens per day being generated by K3 models across the system, although usage has slipped slightly in recent months.

Moonshot’s projected revenue still remains far below closed-weight rivals. Recent reports put OpenAI at $40 billion and Anthropic at $65 billion in revenue. Because K3‘s weights are freely available, Moonshot operates with far lower margins than closed-model competitors. The updated projections suggest that open-weight models can still develop into substantial revenue streams, even if they do not match the profitability of closed-weight frontier systems.

Moonshot’s development practices are also under scrutiny. Earlier this week, Anthropic accused the company of running a long-term model distillation campaign that routed nearly 300,000 requests from Kimi directly to Claude Opus, effectively serving Opus in place of Moonshot’s own models. Anthropic said more than 23 million responses were collected from its models for use in Moonshot’s training, and called the practice potentially illegal.