What has Kimi Hosted Agents changed?

  • Moonshot AI has launched Kimi Hosted Agents, offering enterprises and developers a cloud-based framework that supports agent operations. Users can access an always-on hosted environment without having to build and maintain the framework themselves.
  • The hosted environment supports long-running tasks and multi-agent collaboration. It addresses agents’ runtime and collaboration needs while carrying out tasks, allowing enterprises to focus more of their efforts on application scenarios.

Why have practical capabilities become a focus of iteration?

  • Bohai Securities believes that large models are already approaching human-level performance on traditional benchmarks, and that the current focus of iteration has shifted to agents’ practical tasks. From 2025 to 2026, frontier AI systems accelerated their iteration significantly on tasks such as computer use in OSWorld.
  • The scale of model calls is also growing: in 2025, Token call volume in China’s domestic model-as-a-service market reached 1941 trillion. On this basis, Bohai Securities notes that model providers in China and overseas are exploring various monetization approaches.

How can enterprise applications turn model capabilities into business value?

  • Hualong Securities believes that agents are turning large-model capabilities into deliverable enterprise workflows. Application providers with industry expertise and customer resources may be among the first to benefit in vertical sectors such as office work, industry, and finance.
  • The specific ways of connecting differ. Sunnet Technology’s Lingxi Engine connects computing power, models, and applications, and can be used to build agent products for different industries. China Online, meanwhile, uses agents to produce advertising creatives, optimize budgets, and monitor campaign performance.