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Fortune

Nicholas Gordon

China's Moonshot, Z.AI, and DeepSeek are challenging U.S. AI labs—and beating them on cost

DeepSeek Moonshot China United States Zai Airbnb Cursor George Chen Meituan Moonshot AI

(Credit: Illustration by Tyler Comrie; photos from Getty Images)

It was, perhaps, the worst-kept secret in the AI community.

In mid-July, online sleuths who obsessively track the internet for signs of new AI models started to whisper about the latest offering from Moonshot AI, the Beijing-based artificial intelligence startup behind the Kimi large language model: Something big was coming.

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