Chinese start-up Moonshot AI, which develops the popular Kimi range of models, is seeking to raise $1 billion (£750m) to $2bn in a round that would value it at up to $30bn, according to multiple reports.
Such a valuation would be 50 percent higher than the $20bn it reached during its previous funding round in May, and a more sixfold rise from its valuation at the end of 2025.
HF Capital, the financial adviser for the May round, revealed the valuation and transaction details in a since-deleted WeChat post, the South China Morning Post reported. Details of the round were earlier reported by Bloomberg.
IPO plans
Moonshot faces intensifying competition from major Chinese tech firms, as well as start-ups including Zhipu AI and MiniMax, both of which held IPOs in Hong Kong earlier this year, attracting strong interest from investors.
