Kimi K3 is Moonshot AI's flagship mixture-of-experts model with 2.8 trillion parameters and a 1 million-token context window, released on July 16, 2026. It ranks #1 on the Arena leaderboard (tied with Fable 5) and #3 overall on Artificial Analysis; open weights were released July 27, 2026, and the API is available as kimi-k3.