Kimi’s K2.5 large language model has generated more revenue in the past 20 days than the company did in all of 2025, sources familiar with the matter said, driven by a surge in global paying users and API usage. Overseas revenue has now overtaken domestic income, with international subscriber growth particularly strong. Just over a month after closing a $500 million funding round, Kimi’s Moonshot AI is set to raise more than $700 million in a new financing round, exceeding its target. The round is co-led by Alibaba Group, Tencent Holdings, Wuyuan Capital, and Ji’an Investment. [Tech Web, in Chinese]
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