Income in the past 20 days has surpassed the entire previous year! The dark side of the moon has become the fastest domestic company to advance to a ten-billion-dollar unicorn.

After raising over 1.2 billion USD in consecutive funding rounds, the large model unicorn Moonshade (Kimi) achieved the highest funding amount in the large model industry in nearly a year, also setting the fastest pace for a domestic company to progress from founding to a ten-billion-dollar valuation (over 10 billion USD).

Public information shows that it took ByteDance more than four years to surpass the 10-billion-dollar valuation mark, and Pinduoduo more than three years. In contrast, Kimi went from an angel round of 300 million USD to a valuation exceeding 100 billion USD in just over two years, with its valuation increasing more than 30 times.

Additionally, sources familiar with the matter revealed that less than a month after the release of Kimi’s K2.5 large model, Kimi’s revenue in nearly 20 days has already exceeded its total revenue for the entire year of 2025. The growth is mainly driven by a surge in global paying users and API call volume, especially overseas paying users, with Kimi’s overseas revenue now surpassing its domestic income. (The Paper)

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