Moonshot AI opens pre-IPO funding round for US$50b valuation

Moonshot AI has reportedly launched its G-round pre-initial public offering financing, targeting a valuation of US$50 billion (HK$390 billion), mainland media reported on Wednesday.

Following the release of its stellar Kimi K3 artificial intelligence model, many institutions have registered for investment intentions, the report said.

A family office and an overseas investment institution also made a call to inquire about allocation recently, according to the report.

Meanwhile, the strong performance of the Kimi K3 model gave the AI startup more bargaining power in the latest funding round. 

The participants of this round of financing need to finish the payment before August 15, and for those who want to be directly listed on the firm's register of shareholders, Moonshot AI requires institutions to have assets under management exceeding US$500 million.

Previously, the company reportedly planned to file for an IPO in Hong Kong as early as this month, seeking about US$3 billion. It then denied the report, saying its G-round funding is still ongoing.

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