Venture
Moonshot AI reportedly closes a round at $50B and eyes a $5B Hong Kong IPO in early 2027 with ARR near $1B
Kimi maker Moonshot AI has reportedly completed a final private round at a $50B valuation, up from $31.5B this summer, with Alibaba, Tencent and 5Y Capital among its backers, Bloomberg reported; the round size was not disclosed. The Beijing company has filed confidentially for a Hong Kong listing that could raise up to $5B as early as the first quarter of 2027, with Bank of America, CICC, Deutsche Bank and Goldman Sachs working on it, though no timetable is final. Annual recurring revenue is said to be about $1B, up from $300M in June, with $2B projected by December on the strength of Kimi K3. A Moonshot listing would be the first public comp for a Chinese frontier lab's revenue multiple.
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