Woofun AI reports that Moonshot AI intends to release the Kimi K3 large language model shortly. The system features between 20 trillion and 30 trillion parameters, positioning it as the largest AI model in China by scale. Unlike proprietary US alternatives, Kimi K3 will be distributed as an open-weight model, allowing free download and modification. This approach aims to counter rising service fees from US providers like Anthropic. Sources indicate Moonshot AI is preparing for a financing round with a valuation near $31.5 billion. Competitors DeepSeek, Anthropic, and OpenAI have reached valuations of $71 billion, $965 billion, and $852 billion respectively. Moonshot AI declined to comment on these developments.