Alibaba Group Holding Ltd.-backed Moonshot AI released an upgrade of its flagship model, heating up a domestic arms race ahead of an expected rollout by Chinese sensation DeepSeek.The latest iteration of Moonshot’s Kimi can process text, images, and videos simultaneously from a single prompt, the company said in a statement on Tuesday, aligning with a trend toward so-called omni models pioneered by industry leaders like OpenAI and Alphabet Inc.’s Google....