On July 16, 2026, Moonshot AI unveiled its latest flagship large-scale model, Kimi K3, which boasts an impressive 2.8 trillion parameters. As the largest open-source model globally, Kimi K3 is capable of handling both text and image processing, making it well-suited for programming, knowledge-intensive tasks, and intelligent agent functionalities. Within just 24 hours of its release, K3 emerged as the leader in anonymous testing for front-end programming within the large model community, securing an overall third-place ranking worldwide. Kimi K3 is set to officially go open-source at 23:00 on July 27, with plans to simultaneously release the full model weights. Following the launch of K3, user requests surged, nearing the cluster's capacity limit. In response, the company temporarily suspended new subscriptions for individual users. Moonshot AI is planning to embark on its final round of financing before going public in August, aiming for a valuation of $50 billion.