Moonshot AI Eyes Hong Kong IPO, Could Raise Up to $5 Billion

According to Bloomberg, Moonshot AI is considering a Hong Kong IPO as early as this year, aiming to raise between $3 billion and $5 billion. The company has hired Bank of America as the overall coordinator, with CICC, Deutsche Bank, and Goldman Sachs also involved.

Founded by former Tsinghua professor Yang Zhilin, Moonshot AI counts Alibaba, Tencent, and Qiming Venture Partners among its investors. In July, it launched the open-source AI model Kimi K3, which quickly gained global attention, with some metrics rivaling leading models from OpenAI and Anthropic.

Recently, Moonshot AI completed a $3.5 billion funding round, valuing the company at $35 billion. It is also in talks with potential investors for a new round at a pre-money valuation of $50 billion.