Technology
Moonshot AI closes funding at about $50 billion
Business Standard··6d ago
Moonshot AI has closed a final private fundraising round at a valuation of about $50 billion, people familiar with the matter told Business Standard. The Chinese AI firm is preparing for a Hong Kong IPO in the first quarter of next year, those people said. A previous summer round valued the company at $31.5 billion.
Prism
What It Means For You
- People familiar with the matter said Moonshot may raise up to $5 billion in the IPO.
- Early-look investor meetings could begin as early as this month, they said.
- Moonshot representatives did not respond to comment requests during a Chinese holiday.
What's Happening
- Moonshot released open model Kimi K3 in July, drawing global attention.
- Annual recurring revenue is expected to rise to $2 billion by December from $1 billion, people said.
- Founder Yang Zhilin previously worked at Meta and Google, the report said.
Hong Kong's Crowded AI Pipeline
- Backers include Alibaba, Tencent and 5Y Capital.
- DeepSeek is also preparing an early 2027 Hong Kong listing, people familiar said.
- Regulators have opened a data-security probe into DeepSeek and Moonshot, The Information reported.
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