Moonshot AI, the Chinese company behind the Kimi chatbot, is reportedly in early talks to raise up to $2 billion at a valuation of $30 billion, according to Bloomberg. The company is also dismantling its offshore corporate structure in preparation for a Hong Kong IPO.
If the round closes, Moonshot AI's valuation would jump nearly sevenfold from just over $4 billion in December 2025. This would be the startup's third fundraising in six months, as it scrambles to keep up in China's cutthroat AI race.
Demand for Kimi and its large language model has surged, pushing Moonshot AI's annual recurring revenue (ARR) past $200 million as of April 2026. A successful round would push Moonshot AI's valuation past roughly...