Kimi's valuation exceeds $31.5 billion, with ARR reaching $300 million

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Kimi's valuation has now surpassed $31.5 billion, with a new funding round currently in progress. On-chain data shows that ARR has exceeded $300 million by mid-June. API revenue, which now accounts for over 70% of total income, is driving growth. New token listings and increased developer activity are fueling this upward momentum. Ongoing model updates continue to enhance usage and commercialization.

The recent closing of Moonshot AI's (Kimi) previous funding round valued the company at $20 billion. A new funding round has now been launched, with a pre-money valuation rising to $31.5 billion. According to insiders familiar with Kimi, the company disclosed its latest revenue figures during this fundraising process: by mid-June, its annual recurring revenue (ARR) surpassed $300 million. This revenue growth is primarily driven by increased developer adoption and higher API revenue resulting from model iterations. Currently, API revenue accounts for more than 70% of Kimi’s total revenue and continues to rise. Kimi’s revenue trajectory is beginning to mirror the early commercialization phase of Anthropic: surging developer usage, increasing API revenue share, growing paid users overseas, and upward pricing pressure driven by continuous model improvements. (Jinshi)

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