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Technology

Moonshot AI, creator of Kimi K3, surpasses Wipro and doubles Tech Mahindra’s market value

hellohimachalse@gmail.com 31 Jul 2026 31 Jul 2026

Chinese company Moonshot AI has just reached a valuation of $35 billion after raising $3.5 billion in its latest funding round. The creator of Kimi K3 has now surpassed Indian tech giants such as Wipro and Tech Mahindra in terms of market capitalisation.

To put this in context Moonshot AI was founded in Beijing in 2023. The startup is responsible, for the Kimi K3 AI model. The Kimi K3 AI model recently went viral. The Kimi K3 AI model matched the performance of Anthropic’s Claude Fable on tasks.

Its value now exceeds that of some of India’s most important technology companies. For instance, Wipro has a market capitalization of approximately $19.7 billion, while Tech Mahindra is valued at $17.2 billion.

It is worth noting that Wipro and Tech Mahindra have been providing IT services for decades, whereas Moonshot was established just three years ago.

However, this is not the first time an AI startup has surpassed the market capitalization of Indian tech companies. OpenAI and Anthropic already hold valuations exceeding the combined value of India’s largest tech firms: TCS, Infosys, Wipro, HCL Tech, and Tech Mahindra.

Both US-based AI startups plan to go public soon, with the potential for each to surpass a market capitalisation of $1 trillion.

What is Moonshot AI?

Moonshot AI develops open-weight AI models. Unlike models such as Claude Fable or GPT-5.6, open-weight models can run locally on the user’s device. This means it is possible to use models like Kimi K3 at a lower cost than cutting-edge US models. Reportedly, Moonshot’s daily sales have increased at least sixfold since the launch of Kimi K3.

The Chinese startup recently released the weights for Kimi K3—the numerical values the model learned during training—allowing developers to freely download, modify, and host the technology. The company’s rise has also placed it at the centre of tensions between the United States and China. The White House has previously accused Moonshot of training its K3 model using restricted Nvidia chips and has reiterated allegations regarding the practice of “distillation”: obtaining outputs generated by competing models to improve its own performance.

According to various reports, Moonshot AI may soon embark on a new funding round, this time at a market valuation of $50 billion. Additionally, the startup is expected to file for an initial public offering (IPO) in Hong Kong later this year. Moonshot is estimated to have reached an annual recurring revenue (ARR) of $300 million in June, up from $200 million in April.

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