Moonshot AI raises $2B at $20B valuation from Meituan

Moonshot AI secured $2B at a $20B valuation, led by Meituan, signaling continued aggressive capital formation in China's frontier AI sector. Their Kimi K2.6 model is outperforming GPT-4.5 and Claude on coding benchmarks, positioning it as a serious open-weight competitor. Engineers evaluating cost-efficient coding assistants should benchmark K2.6 immediately.