China AI startup Moonshot AI to seek US$18 billion valuation, Bloomberg reports

One of China's six AI tigers, Moonshot AI, is targeting a valuation of US$18 billion (HK$140.4 billion) in an expansion of a new funding round to raise as much as US$1 billion, more than quadrupling its valuation in three months, according to Bloomberg.

The startup that developed the Kimi chatbox received around US$700 million earlier this year, bringing its valuation to US$10 billion, in which it received the financing from Alibaba (9988), Tencent (0700), and 5Y Capital.

Its valuation was at around US$4.3 billion in a US$500 million tranche at the end of last year.