TechCrunch, citing a Bloomberg report, says Chinese lab Moonshot AI is targeting $2 billion in annualized revenue by the end of the year, roughly double its reported August run rate. The number matters because Moonshot's K3 model is open-weight, which means far thinner margins than closed-weight rivals: OpenAI and Anthropic are reported at $40 billion and $65 billion respectively. OpenRouter data cited by TechCrunch shows as many as 300 billion tokens a day generated by K3 on that system. The company's methods remain contested. Anthropic alleged this week that Moonshot ran a long distillation campaign, routing nearly 300,000 Kimi requests straight to Claude Opus.