Kimi's low-cost model revenue contribution surpassed K3, with an annual revenue reaching 1.2 billion USD

According to a report by Nomura Securities, AI company Kimi under the brand Moonlight's Dark Side is estimated to achieve an annual recurring revenue of $1.2 billion in September. Bloomberg previously reported that Kimi's annual recurring revenue in August had surpassed $1 billion, with a year-end target of $2 billion.

The K2.8 Preview, launched on September 11, is estimated to contribute about 40%--45% of the annual recurring revenue, exceeding the flagship model K3's 30%--35%. The K2.8 Preview is priced lower and primarily targets programming and everyday agent tasks. Experts estimate that K3 has a gross margin of about 35%--40%, while lower-priced models like K2.8 Preview have about 20%--25%. The API is Kimi's largest source of revenue, with overseas markets contributing more than half.