Kimi K3 Launch Drives Anthropic IPO Valuation Forecast Down 11%, Moonshot AI Halts New Subscriptions

Following Moonshot AI's release of Kimi K3 on July 16, market expectations for Anthropic's year-end IPO valuation hitting $1.5 trillion declined to 67%, down 11 percentage points, according to prediction platform Polymarket. The next-generation model features 2.8 trillion parameters and 1 million token context window.

The surge in user demand after K3's launch exceeded Moonshot AI's capacity, with request volumes pushing current computing clusters to their limits over the past 48 hours. The company suspended new consumer subscriptions on July 19 to prioritize existing subscribers' experience while accelerating infrastructure expansion. Moonshot AI plans to introduce separate subscription tiers for Kimi's core services and Kimi Code upon relaunch.