Moonshot's upcoming Kimi 3 is expected to close the gap with Anthropic's Opus 4.8

Moonshot's upcoming Kimi 3 is expected to close the gap with Anthropic's Opus 4.8 as China’s open-weight model push accelerates, the Financial Times reported. Citing anonymous sources, it says Moonshot AI expects Kimi 3 to perform at or above Anthropic’s Opus 4.8, following positive reception for the Kimi K2 family in open-source benchmarks. The upcoming release is described as Moonshot’s largest open-weight model, with an estimated parameter count between 2 trillion and 3 trillion, arriving “in the coming days.” The report also says Moonshot is raising fresh capital in a round valuing the company at $31.5 billion, after a May raise of $2 billion at a $20 billion valuation. It places the development amid debate over paying for closed models versus using cheaper open alternatives like DeepSeek, Z.ai, and Moonshot.