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About Moonshot AI
The Moonshot AI token price index is $5.61 per 1M tokens today, down 6.5% since yesterday, down 6.5% over the past week and down 6.5% over the past month. Over the past year it has ranged from $1.08 to $6.00. It is the usage-weighted average of the posted prices of Moonshot AI's 2 models, blending 3 input tokens with 1 output token; Kimi K3 has the largest share of usage, at 80.6%. It is calculated once a day, for each UTC day, shortly after the day ends.
Moonshot AI makes the Kimi models. It was founded in Beijing in March 2023 by Yang Zhilin, its chief executive, with Zhou Xinyu and Wu Yuxin. In May 2026 it raised about $2 billion at a $20 billion valuation, and its annual recurring revenue passed $200 million in April. Moonshot publishes its models' weights; those of Kimi K3.1 Pro, its newest flagship, launched on October 23, 2026, are due by November 4. Since July 18, 2026, two days after Kimi K3's release, its index has been the highest of the Chinese companies on this site, because most of its usage is on its flagship models.
Models and list prices
| Model | Input | Output | 3:1 blend |
|---|
| Kimi K3 | $3.00 | $15.00 | $6.00 |
| Kimi K3.1 Pro | $2.00 | $10.00 | $4.00 |
| Kimi K2.6 and K2.7 Code | $0.95 | $4.00 | $1.71 |
USD per 1M tokens on October 24, 2026, from Moonshot's pricing page. Cached input costs $0.30 on K3 and $0.20 on K3.1 Pro; the faster "highspeed" versions of K3.1 Pro and K2.7 Code cost twice as much for input and output. The K2 models close to new users on October 31, 2026, and Moonshot plans to retire them all by the end of December 2026. Moonshot also sells in China in yuan, at separate prices.
What this index measures
Each day's value averages the prices Moonshot posts for its own Kimi models, weighted by each model's tokens in OpenRouter's daily rankings and blended at 3 input tokens to 1 output token. On October 23, 2026, Kimi K3 carried 80.6% of Moonshot's ranked tokens and K3.1 Pro 19.4%. Moonshot says its API reaches a cache hit rate above 90% in coding, so coding customers pay much less for input than the list price.
The history starts on July 12, 2025, the day after Kimi K2's release, and 143 of its days are empty under the index's rules. From January 27 to April 21, 2026, and on 38 days from May 14 to July 17, 2026, Kimi K2.5, which Moonshot served until August 31, 2026, carried more than 20% of its tokens, and K2.5's price is not on record in the data the index uses. On 20 days from October to December 2025, no Kimi model was among OpenRouter's 50 most-used.
Other hosts also sell Kimi K3: on October 24, 2026, 29 endpoints listed it on OpenRouter, from about $0.24 to $4.50 per million input tokens. Kimi K3's license requires model-as-a-service businesses with more than $20 million in revenue over 12 months to sign a separate agreement with Moonshot. The index uses Moonshot's own price.
What moves Moonshot's index
- Earlier generations. From July 2025 to January 2026 every published value was $1.075, the 3:1 blend of the Kimi K2 models' $0.60/$2.50; from April 22 to July 16, 2026, it was $1.71, the blend of K2.6's and K2.7 Code's $0.95/$4.00.
- New flagships. Kimi K3, at $3/$15, took most of Moonshot's usage within days of its release on July 16, 2026, and the index rose from $1.71, the K2.6 price, to $6.00 by late July.
- The move from K3 to K3.1 Pro. K3.1 Pro is 33% cheaper than K3 on both input and output, so the index falls as usage moves to it; on October 23, its first day in the index, the value fell to $5.61 from $6.00.
- Older models. When K2.6 or K2.7 Code also made OpenRouter's top 50, the index dipped to between $5.25 and $5.63 in August and September 2026.
Price history
US government actions
From April 2026 the US House Committee on Homeland Security pressed two American companies, DoorDash and Cursor's maker Anysphere, over their use of Kimi models, according to Wikipedia, citing CNBC.
FAQ
How much does the Kimi API cost per million tokens? Kimi K3.1 Pro costs $2 input and $10 output, and Kimi K3 $3 and $15, as in the table above.
Why has Moonshot's index been higher than other Chinese companies'? In October 2026 all of its ranked usage was on Kimi K3 and K3.1 Pro, its most expensive models, while most usage at Alibaba, DeepSeek, Z.ai and Xiaomi went to their cheaper Flash and small models.
How often is it updated? Once a day: each UTC day's value is calculated shortly after that day ends, from the day's OpenRouter volumes and the prices posted then. The site checks for new data every 2 to 3 hours.
Sources
Text reviewed Oct 24, 2026; the figures in it are as of that date. The figures at the top of this page update once a day. Not investment advice.
