Kimi has officially announced its partnership with American Express and the Agricultural Bank of China for the launch of its innovative credit card. This card, which is now officially available, previously opened for pre-orders and stands out as the first consumer credential to feature AI services as a fundamental benefit. Cardholders have the unique opportunity to convert their spending into Kimi computing power credits. Additionally, they can redeem their daily consumption points for Kimi membership perks at a 20% discount. Looking ahead, the trio of partners will delve into further collaborative ventures. By leveraging the global reach of American Express, Kimi aims to cut down on overseas customer acquisition expenses and expedite its international growth. Presently, Kimi has witnessed a remarkable 400% surge in both overseas paid users and API revenue, with its offerings spanning over 200 countries and regions. The introduction of this credit card marks Kimi's strategic move to deviate from the conventional monthly subscription model, create an offline closed-loop system, and redefine the monetization strategy for large-scale models. This strategic shift is motivated by the commercialization challenges posed by its rapidly escalating valuation. In the last six months, Moonshot AI's valuation has skyrocketed by more than six times, fueling market speculations about a potential Hong Kong IPO. At present, Kimi's Annual Recurring Revenue (ARR) has tripled within a span of three months, with API revenue contributing to over 70% of the total. Nevertheless, to uphold its valuation, Kimi recognizes the necessity for fresh growth narratives. Identifying a second growth trajectory beyond subscriptions has emerged as a common hurdle for leading large-scale model companies. Stepfunctio is on the verge of introducing a new-generation agent terminal and its inaugural AI agent smartphone, while ByteDance's Doubao large-scale model has also made its foray into the terminal sector. The large-scale model industry is transitioning from mere 'storytelling' to tangible 'implementation'.