Bloomberg reported on 6 October that Moonshot AI had closed its final private fundraising round at a valuation of about $50 billion, compared with $31.5 billion in a round this summer, and was heading towards a Hong Kong IPO in the first quarter of 2027.
The company is considering raising up to $5 billion in the offering, according to people familiar with the matter. Moonshot has filed confidentially for the IPO. Bank of America is an overall coordinator alongside sponsor banks China International Capital, Deutsche Bank and Goldman Sachs, Bloomberg reported. Meetings to gauge investor interest could begin as soon as October. The people said the IPO timetable could change.
Moonshot launched its open Kimi K3 model in July. Founded in early 2023 by Yang Zhilin, the Beijing-based company counts Alibaba, Tencent and 5Y Capital among its backers. Its annual recurring revenue reached $300 million in June and currently stands at $1 billion. People familiar with the matter expect that figure to reach $2 billion by December.
