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Kimi-maker Moonshot AI targets $2 billion in annual revenue

Moonshot AI targets $2 billion annualized revenue by year-end on K3 open-weight demand; Anthropic alleges Kimi routed ~300,000 requests to Claude Opus.

Bloomberg reported that Moonshot AI is targeting $2 billion in annualized revenue by the end of 2026, double its August run rate, driven by its open-weight K3 model. OpenRouter data shows up to 300 billion tokens generated per day by K3 models, though usage has slipped slightly in recent months. Moonshot's projection remains far below reported figures for OpenAI ($40B) and Anthropic ($65B), with lower margins due to freely available weights. Anthropic this week alleged Kimi routed nearly 300,000 requests to Claude Opus and collected more than 23 million responses for use in Moonshot's training.

TechCrunch · AI · 4d agoAI industry

Nscale adds former OpenAI exec Fidji Simo to its board ahead of potential IPO

AI data center startup Nscale appointed former OpenAI executive Fidji Simo to its board ahead of a planned fall IPO and reported $3.5 billion raise.

Nscale, a UK-based AI data center startup founded two years ago, appointed Fidji Simo to its board. Simo was formerly CEO of AGI Deployment at OpenAI (the lab's No. 2 executive), and previously served as Instacart CEO through its 2023 IPO and as head of the Facebook app at Meta. She joins Sheryl Sandberg, Susan Decker, and Nick Clegg on the board as the company prepares for an anticipated IPO this fall. Nscale is reportedly attempting to raise up to $3.5 billion ahead of the IPO, according to Bloomberg.

TechCrunch · AI · 4d agoAI industry

AI compute provider Nscale is looking for $3.5B in pre-IPO financing

British AI compute provider Nscale seeks $3.5B pre-IPO via $1.5B convertible notes and $2B from Nvidia ahead of a possible September IPO.

Nscale, a British AI infrastructure company founded about two years ago, is reportedly in talks to raise $3.5 billion ahead of an IPO that could come as early as late September 2026: $1.5 billion in convertible notes plus $2 billion in financing from Nvidia. Nvidia previously joined Nscale's $1.1 billion Series B in March, led by Aker and billed as the largest Series B in European history, following a $155 million Series A in December 2024. Nscale recently signed an approximately $45 billion deal with Anthropic and has told investors it has roughly $103 billion in projected revenue based on signed customer leases.

TechCrunch · AI · 11d agoAI industry

Crusoe reportedly raises $3B at a $30B valuation

AI data center developer Crusoe raised $3 billion at a $30 billion valuation, plus a $13 billion five-year GPU contract with Jane Street.

Crusoe, which builds hyperscale data centers for customers including Meta, Microsoft, OpenAI, and Oracle, raised a $3 billion round at a $30 billion valuation, Bloomberg reported. The round was co-led by Atreides Management and Valor Equity Partners with participation from Mubadala Capital. It comes 10 months after a $1.38 billion raise at a $10 billion valuation and follows a $13 billion, five-year cloud contract supplying GPUs and AI infrastructure to trading firm Jane Street. The company has met with Goldman Sachs and Morgan Stanley about a potential near-term IPO.

TechCrunch · AI · 11d agoAI industry

Legacy Lenovo login opens 5,000 Dropbox accounts to attackers

Dropbox warned about 5,000 users that attackers abused a legacy Lenovo ID login integration to access accounts and files between August 4 and 21.

Attackers exploited an integration allowing Dropbox access via Lenovo IDs, registering Lenovo IDs with Dropbox users' email addresses due to a flaw in Lenovo's email verification process. The compromise lasted from August 4 to 21; attackers accessed files belonging to fewer than a third of the roughly 5,000 affected users, none of whom had 2FA enabled. Bitcoin security company Casa co-founder Jameson Lopp reported attackers attempted to access one locally encrypted file. Dropbox expired all Lenovo ID sessions, severed the integration link, and urged affected users to reset passwords and enable 2FA while Lenovo's investigation continues.

The Register · Security · 13d agoData breach in the wild

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organization OpenAI 3organization Meta 2organization Anthropic 2organization Nscale 2vendor OpenAI 2vendor Nscale 2organization Goldman Sachs 1organization Casa 1organization Aker 1organization Microsoft 1organization Moonshot AI 1organization Mubadala Capital 1organization Atreides Management 1organization Nvidia 1organization Jane Street 1organization Instacart 1
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