Kimi
Kimi is an AI assistant product built by Moonshot AI, the startup founded by Yang Zhilin that spun off from Recurrent AI . It launched in October 2023 with a distinctive focus on long-context processing—initially supporting roughly 200,000 Chinese characters of lossless context input, then expanding to 2 million characters within six months . The product has since evolved into a broader model family and agent platform. In November 2025, Moonshot AI released Kimi K2 Thinking, an open-source reasoning model trained on a "model-as-Agent" architecture that can perform up to 300 rounds of tool calls autonomously ; this was followed by K2.5 in January 2026 and K2.6 in April 2026, the latter a 1T-parameter MoE model with agent-swarm capabilities supporting 300 sub-agents in parallel . Moonshot AI's stated ambition, as of early 2026, is to surpass Anthropic and become a world-leading AGI company . The company has raised multiple rounds from investors including ZhenFund, Monolith, Capital Today, Gaorong Ventures, and 5Y Capital .
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Coverage
The DeepSeek Financing Story
"The world was always meant to be this way."
elsewhere别处发生·First Whistle! Predict Your 2026 World Cup Champion
A new journey has begun — remember this summer.
真格基金·"Xiaosu Tech" Du Zhiheng: Search Is 10x Cheaper Than Reasoning, But 90% of People Don't Know | Yunqi Portfolio --- This is a headline/article title, so here's the full translation with context: **"Xiaosu Tech" Du Zhiheng: Search Is 10x Cheaper Than Reasoning, But 90% of People Don't Know | Yunqi Portfolio** Or if you need the body text translated as well, please provide it.
How to Spend Your Tokens Without Regret
云启资本·Rong Report | HT Aero, Xiwang, Helixon and Others Close Major Funding Rounds; Moonshot AI and Momenta Release Leading Models
Major Funding + Leading Model + Mass Production
高榕创投·Invest in ByteDance alumni. Invest in people who've been broken and rebuilt. Invest in people with outsized ambition and minimal ego.
*My Brilliant Partner*
elsewhere别处发生·Moonshot AI's K2.6 Model Is Here: Major Leaps in Long-Range Coding and Agent Swarm Capabilities!
Talk is cheap. Show me the code.
高榕创投·Moonshot AI K2.6: The Leap in Long-Horizon Execution and Agent Swarm Capabilities
Thirteen hours of continuous execution
Monolith砺思资本·Vibe Coding Should Start From Childhood
A new generation is already entering elsewhere.
elsewhere别处发生·AI Unicorn Factory
Script, catfish, loop, rainmaker, role model, results.
elsewhere别处发生·Source Code Rhythm has raised over $150 million for its first fund and has launched RMB fund fundraising.
Another oversubscribed early-stage USD fund.
暗涌Waves·The First USD VC Fund to Close in 2026
What comes after Aksu. *(Note: "阿克苏之后的故事" literally means "the story after Aksu." If this refers to a specific title or context I'm missing — such as a book, film, or article — please provide more details and I can refine the translation.)*
elsewhere别处发生·The Lobster Farmers Have Already Started Rebuilding the World | Yunqi Capital X MiniMax OpenClaw Meetup Recap
What Is Agent Actually Changing?
云启资本·At the Eye of the OpenClaw Storm: Agents Are the New Demographic Dividend, Context Is Humanity's Moat | Ronghui
Amazon Web Services, Moonshot AI, Pine AI, SiliconFlow — exclusive firsthand insights!
高榕创投·Rongbao | Karl Dynamics, Aerofugia, StarsComm, and ImmuPeak Kick Off the Year with Major Funding Rounds
Leading the industry into a new era.
高榕创投·Long-Horizon Autonomous Agents: The Birth of a New Species
Generals are scarce; soldiers come free.
Monolith砺思资本·Moonshot AI Raked In More Revenue in 20 Days Than All of Last Year! How to Price AI Products When You're Winning Global Paying Users | Rong Talk --- **[Note: The user provided a headline/fragment for translation. Here is the translated version following all specified rules.]**
Pricing model-driven growth.
高榕创投·Dropped Out of Columbia to Build the First General-Purpose Learning Agent
真格基金·Yunqi Capital's Back-to-Work Special: 17 "AI Moments" From the Lunar New Year at a Tech VC Firm
We co-created an AI watch.
云启资本·An Underwater AI Chip Company Raises 1 Billion Yuan, Targeting Large Model Inference
Walking between two "hands."
暗涌Waves·OpenClaw Confession: Nine Stories, the Growth of a Digital Life
This is my first growth diary — stay tuned for more!
真格基金·MONOLITH in Everyone's Eyes — Striving to Be a Honey Badger
Transparent, sincere, truth-seeking
Monolith砺思资本·5Y Capital Investor Notes: Agents Are a New Form of Life, and They're Hungry Today | 5Y View
The greatest investment opportunity isn't building a better Agent — it's becoming the water and air that the Agent world depends on to survive.
五源资本·We now have an Agent on Moltbook.
Let the Token Fly a Little Longer
Monolith砺思资本·As investors, we took Moonshot AI's K2.5 for a spin.
More Than "All-Powerful"
Monolith砺思资本·5Y News｜Moonshot AI Releases and Open-Sources K2.5 Model, Bringing New Visual Understanding, Coding, and Agent Clustering Capabilities
The soul never thinks without a mental image.
五源资本·Moonshot AI Releases and Open-Sources K2.5 Model: Visual Understanding, Coding, Agent Clusters — The Most Intelligent and Capable Model Yet
Delivers all-new visual understanding, coding, and agent-clustering capabilities.
高榕创投·Yungang Huang, Source Code Rhythm: My Aksu
"West Lake is so beautiful, I want to jump right in."
elsewhere别处发生·Vol.003 | In Conversation with Huang Yungang: From Moving Bricks in Xinjiang to VC — My Folded Life
elsewhere别处发生·5Y News｜Moonshot AI Closes $500 Million Series C Round, Aims to Become a World-Leading AGI Company
Moonshot AI will become an LLM that is "distinctive" and "undefinable."
五源资本·Moonshot AI Completes $500 Million New Funding Round, Zhilin Yang: Kimi Will Become a Distinctive LLM
"Become the world's leading AGI company."
高榕创投·Harry Wang: God Only Opened Two Doors to AI's Future — One in America, One in China | Linear View
The adaptable survive; the evolved lead.
线性资本·Huai Wang: There Are Only Two Doors Leading to the AI Future, One Is in the US and the Other Is in China | End of 2025
Adapt to survive; evolve to lead.
暗涌Waves·Conviction, Patience, and Confidence: Lessons from a Decade of Smart Glasses Ups and Downs | Linear Voice
Early-stage startups are not guinea pigs for big tech.
线性资本·Moonshot AI's Yutong Zhang: The "1%" Exception Under the Capital-and-Compute Determinism | Tsinghua University Campus Talk
Seeking the optimal solution for converting energy into intelligence.
真格基金·Ant Group's Jigang and FengRui's Li Feng: How Can AI Hardware Startups Survive the "Data Desert"?
Past data has powered large language models; future AI development cannot happen without new data.
峰瑞资本·Innovation Often Happens Where No One Has Gone Before | 5Y News Monthly
The big news from last month.
五源资本·Looking Ahead to 2026: What Innovation Opportunities Await the AI Industry? | Frees Report
From Large Models to World Models: Where Will AI Head in 2026?
峰瑞资本·Moonshot AI K2 Thinking: When an "Interleaved Thinking" Model Steps Into the Spotlight, What Actually Changes?
Greater commercial freedom, lower migration costs
Monolith砺思资本·Moonshot AI Releases and Open-Sources Kimi K2 Thinking Model, Boosting Agent and Reasoning Capabilities | Z News
Moonshot AI's most capable open-source reasoning model to date.
真格基金·Seeing Further Possibilities | 5Y News Monthly
The big news from last month.
五源资本·Moonshot AI Releases Kimi K2 Thinking, Its Strongest Open-Source Reasoning Model to Date
Models are thinking agents.
高榕创投·Elsewhere News | Neolix, LiblibAI, and others close landmark funding rounds, setting new industry records
"AI is the biggest variable in the future."
高榕创投·Not Chasing Trends, But Backing the People Who Create Them: From Jumei to ZhenFund, Yusen Dai Has Navigated Cycles and Stepped Into the AI Era
真格基金·Rongbao | Multiple autonomous driving, nuclear fusion, gaming, and innovative drug companies raise hundreds of millions of RMB in funding
From commercial deployment to world-first breakthroughs, innovation never stands still.
高榕创投·Deep Dive: a16z's Global Top 100 AI Apps — New Patterns and Trends | Yunqi Techπ
It's not just about who's fastest — it's about who can stick around.
云启资本·The Future Unfolds in Every Generation | 5Y News Monthly
The big news from last month.
五源资本·Are Models and "Shells" Both Undervalued? ZhenFund's Yusen Dai's Mid-2025 AI Review --- The past six months have been a turbulent period for AI. On one hand, DeepSeek's breakthrough has reignited global enthusiasm for Chinese AI; on the other, the commercialization path for large models remains unclear, and the market is growing increasingly anxious about when AI will generate real returns. Against this backdrop, I believe it's necessary to take stock of where we stand at this mid-point in 2025. **The Core Question: Are Models and "Shells" Both Undervalued?** Over the past two years, the AI industry has cycled through several narratives: from the initial frenzy over foundation models, to the subsequent boom in AI applications ("shells"), then a period of disillusionment as applications failed to deliver, and now a renewed focus on models following DeepSeek's success. But I want to propose a contrarian view: **both models and "shells" may be simultaneously undervalued by the market right now.** This might sound paradoxical. Let me explain. **Why Models Are Undervalued** The market's current skepticism toward model companies stems largely from two concerns: the commoditization of models (will they all become undifferent
In 2025, the "Sedol moment" for industries far and wide is only just beginning.
真格基金·User Base Breaks 10 Million, Dream Dimension's Shen Qiajin: AI App Entrepreneurship Is Riding the Waves — You Have to Catch Every Surge of Foundation Models
The next most important frontier is multimodal AI and agents.
高榕创投·2025 AI Mid-Year Review with Yusen Dai: OpenAI's IMO Gold, Moonshot AI K2's Comeback, Agent Adoption, and the Talent War
真格基金·Manus Founder Walks Through: How to Systematically Build Context Engineering for AI Agents?
If model progress is a rising tide, we want Manus to be the boat, not a pillar nailed to the seabed.
真格基金·The Future Never Favors the Spectator | Monolith Monthly
Document every step forward.
Monolith砺思资本·Moonshot AI K2 Released, Setting a New Open-Source SOTA! Perplexity Opens Post-Training, Tops Hugging Face Trending | Gaorong Future
Open Source. Model as Agent.
高榕创投·Moonshot AI K2 Released, Aiming for New Open-Source Model SOTA
The world's first open-source, commercially-usable trillion-parameter model
Monolith砺思资本·Rongbao | Geekplus, Saint Bella Go Public in Hong Kong; Deep Research, Design Agent Launched
See further into the future.
高榕创投·Yusen Dai of ZhenFund: From "No Need to Pay" to "Can't Live Without It," AI Is on Track to Shatter Humanity's Fastest Growth Records
The development of AI is a bit like boiling water — once it hits the boiling point, the arrival of the steam engine will spark a new industrial revolution.
真格基金·Yunqi Capital's Chen Yu: AI Entrepreneurship Isn't About Speed — Direction and Endurance Matter More | Partner Perspectives
Achieve non-consensus breakthroughs with limited resources
云启资本·A Year Later, When Kimi and MiniMax Investors Sat Down Together Again
The wildest possibility may be that humans won't be the only intelligent species on this planet.
暗涌Waves·Wang Hua's Latest Prediction: The Biggest Difference Between the AI Era and the Mobile Internet Era Is Fulfillment, Not Connection
The first year is the golden window to capture the first-mover advantage on model dividends — start building now.
暗涌Waves·The Wind Still Howls Where No One Stands | Monolith Monthly
Every step is worth recording.
Monolith砺思资本·Conversation with YouWare's Ming Chaoping: They're Skeptical That AI Coding Is a New Form of Creation — and I'm Thrilled | Z Talk
The promising AI product founder chose a path few others dared to take.
真格基金·ZhenFund's Yusen Dai: A Deep Dive on AI Agents — Every Industry Will Face Its "Lee Sedol Moment" (Part 2)
We're still on day one of the AI intelligence revolution.
真格基金·ZhenFund's Yusen Dai: A Long Conversation on AI Agents — Every Industry Will Face Its "Sedol Moment" (Part 1)
In the Agent era, "attention is not all you need."
真格基金·The Clear Path, Hidden Path, and Rocky Path of AI Fundraising
Where does the money come from?
暗涌Waves·A Long Conversation with Yusen Dai on Agents: Every Industry Will Face Its "Sedol Moment" — Is Attention Not All You Need?
真格基金·Elsewhere is looking for operations interns.
We're hiring.
暗涌Waves·Exclusive | Kimi Arbitration Settlement Fails, Zhang Yutong May Face Separate Lawsuit
The AI landscape has already shifted.
暗涌Waves·A Deep Dive into the Beauty of DeepSeek's Creation: How Was DeepSeek R1 Forged?
AI penetration today is only 5%. For the remaining 95%, what will their first AI application be?
真格基金·When Post-'90s Founders Cluster Into the Unicorn Club: A Look at China's New Unicorns in 2024
Forty-four companies made the list, with hard tech taking center stage.
真格基金·2025 New Year Conversation with Koji: AI's Pivotal Year, the Dawn of the Agent Era | Seriously Speaking EP35
Stay optimistic about AI.
真格基金·The year draws to a close; a new chapter begins | Z News
A warm winter for good things.
真格基金·Moonshot AI Releases Visual Reasoning Model k1, Outperforming OpenAI o1 in STEM Benchmarks | Z News
Every pixel deserves deep thought.
真格基金·China's USD Funds Won't Disappear
Live long enough to long China.
暗涌Waves·ZhiLin Yang's Late-Night Response: Yutong Zhang, Kimi, and the Loop of Past Events
"Grateful to all our investors for supporting the entrepreneurial dream."
暗涌Waves·A Conversation with Li Xiang: Throwing Questions at Someone Who's Always Asking
Reflections of a Lifelong Business Journalist
Monolith砺思资本·Baichuan's First AI Application Investment: Building an Investment-Focused Xiaohongshu for Gen Z
When you can have an AI Warren Buffett watching the market for you.
暗涌Waves·Rongbao | Power Semiconductor, Robotics Firms "Steer" Tech Upgrades, AI Applications Make Major Debuts
The Meaning of "Exploration"
高榕创投·Colossal-AI's You Yang: What Choices Am I Making on Top of a 30 Billion Valuation Ambition?
Reasoning Becomes the Next "Battleground," AI Infra Startups "Prospect" for Video Foundation Models.
真格基金·AI Applications: 100 Questions | How Technology Actually Brings Well-being to Individuals
Companionship, responsiveness, clarity.
线性资本·We invested in large language models, AI applications, and embodied intelligence, but BlueRun Ventures still feels it hasn't FOMO'd hard enough.
The more optimistic doers.
暗涌Waves·Moonshot AI Founder Zhilin Yang's Latest Take: Deep Reflections on OpenAI's o1 Paradigm Shift | Z Talk
The Next Phase of Foundation Models: A New Paradigm?
真格基金·AI Product Growth: Before Talking PMF, First Achieve AI Market Fit | Ronghui Practical Insights
The defining feature of future AI-native products will be that the product adapts to the person, not the other way around.
高榕创投·A Conversation with Zhilin Yang: Focus on Productivity, Build the One Product That Is Kimi | Z Talk
Resist organizational inertia.
真格基金·When Moonshot AI's investors sat down with MiniMax's investors
Five individuals and two companies.
暗涌Waves·Yusen Dai: Embrace the Era, Optimism, and the Power of Young People | Crossover with AI Tech Review Talk
真格基金·A Conversation with Liming Gao: The Zheng Huangs and Yiming Zhangs of the AI Era Are Already Starting Up
It takes ten years to figure it out, and one minute to pull the trigger.
Monolith砺思资本·Two Roads Diverge, But You Can't Travel Both | 2024 · Under 36
Make your choice.
暗涌Waves·A Conversation with Liu Zhiyu: Artificial Intelligence Can Attain Enlightenment Too
The rarest thing in this world is authenticity.
Monolith砺思资本·Zhilin Yang: Innovation, Long-Term Thinking, First Principles
I'll see you on the other side of the moon.
Monolith砺思资本·In less than six months, Moonshot AI's smart assistant has increased its capacity tenfold, now supporting 2 million characters of lossless context.
The Power of Focus
Monolith砺思资本·China's LLM Funding War: The Quick Death of Romance
Do the investors regret it?
暗涌Waves·Moonshot AI Kicks Off the "Long-Context Era" for 100-Billion-Parameter Models
A 100-billion-parameter LLM product that supports 200,000-word context windows
Monolith砺思资本·
![Moonshot AI Raked In More Revenue in 20 Days Than All of Last Year! How to Price AI Products When You're Winning Global Paying Users | Rong Talk
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