Chinese AI company Moonshot preparing for $3 billion IPO

Chinese AI startup Moonshot has confidentially filed for a listing on the Hong Kong Stock Exchange. According to a Reuters source, the company plans to raise approximately $3 billion through the IPO.

Moonshot develops Kimi, an artificial intelligence model whose latest version, Kimi K3, was released in July. The company is simultaneously holding talks with Microsoft, Amazon, and Google. A potential deal would allow American companies to host Kimi on their own cloud platforms.

Moonshot's valuation in the current funding round is estimated at roughly $50 billion. Its investors include Alibaba, Tencent, IDG Capital, and HSG.

The final terms of the IPO have not yet been determined, and the amount to be raised may also change.

Source: Reuters