Moonshot AI Raises $2B at $20B Valuation — Kimi K2.6 Now Second-Most-Used LLM on OpenRouter

TechCrunch·high signal

Beijing-based Moonshot AI closed a ~$2B round led by Meituan's Long-Z Investments, with Tsinghua Capital, China Mobile, and CPE Yuanfeng participating. The company's valuation jumped from $4.3B (end of 2025) to $20B+, with $3.9B raised in six months total. Annual recurring revenue topped $200M in April, driven by paid Kimi subscriptions and API usage. Their latest model Kimi K2.6 is currently the second-most used LLM on OpenRouter.