Kimi K2.5 vs Step-3.5-Flash

Moonshot AI

Kimi K2.5, released by Moonshot AI in January 2026, is an updated Mixture-of-Experts large language model with 1 trillion total parameters and 32 billion active parameters. It builds on Kimi K2 with improved coding performance across multiple languages and an expanded context window. Kimi K2.5 targets agentic development workflows, polyglot code generation, and open-source deployments requiring large-scale MoE reasoning.

StepFun

Step-3.5-Flash, released by StepFun on February 2, 2026, is a Mixture-of-Experts large language model with 197 billion total parameters and approximately 11 billion active parameters per inference. It features a 256K token context window using a 3:1 sliding-window-to-full-attention ratio, processing 100–350 tokens per second. Step-3.5-Flash targets agentic tasks, coding workflows, and open-source deployments requiring frontier reasoning capabilities with efficient inference, under an Apache 2.0 license.