China’s Moonshot AI aims for US$50b round as year-end Hong Kong IPO targeted: sources

Unicorn dismantles offshore structure to pave way for potential listing as investor appetite surges after release of Kimi K3 model The company was expected to raise capital at a valuation of up to US$50 billion in this latest round, one of the sources said. The round, set to be its final fundraising before the IPO, comes shortly after Moonshot completed another financing round last month at a roughly US$30 billion valuation. The open-weights model outperformed leading US systems from Anthropic and OpenAI in certain capabilities, according to the company, bolstering Moonshot’s standing in a competitive domestic market.

Read the full article at the source →