Read More
Chinese artificial intelligence startup Moonshot AI has closed its final private funding round at a valuation of about US$50 billion (HK$390 billion), paving the way for a Hong Kong public listing in the first quarter of 2027, Bloomberg reported on Tuesday, citing people familiar with the matter.
ADVERTISEMENT
SCROLL TO CONTINUE WITH CONTENT
The AI lab has begun preparing to gauge investor interest and plans for early-look meetings starting as soon as this month, the report said, adding that it's considering raising up to US$5 billion.
The discussion is ongoing, and the timing of its initial public offering may change, according to the report.
Previously, the Beijing-based company had reportedly added Bank of America as overall coordinator for the deal, while China International Capital Corp, Deutsche Bank and Goldman Sachs are sponsor banks. Moonshot AI has also confidentially filed for the Hong Kong IPO.
As The Information reported earlier that Chinese regulators launched an investigation of DeepSeek and Moonshot AI over data security, it's not clear whether the tightened regulation within the AI industry will affect the valuation and IPO timeline of Moonshot AI.
The stellar Kimi model operator saw its valuation keep climbing in financing rounds, with the previous round this summer valuing it at US$31.5 billion.
Its annual recurring revenue is expected to rise to US$2 billion by December from the current US$1 billion.
