Beijing-based start-up Moonshot AI is preparing to conclude a funding round in August valuing the company at up to $50 billion (£37.4bn), Bloomberg reported, as the firm capitalises on strong interest in its latest model and prepares for a planned listing in Hong Kong.
An earlier round that began this summer, valuing the company at $31.5bn, is expected to close in the coming days, the report said, citing unnamed people.
Once that round is complete, Moonshot reportedly plans to immediately begin talks with potential backers for a follow-on capital raising, which is intended to be its last before the planned IPO that could take place before the end of this year.
Moonshot AI is believed to be planning a Hong Kong listing. Image credit: Unsplash
Back-to-back fundraising rounds are rare for US companies, and indicate the rapidity with which start-ups in China such as Moonshot and others can seek capital at times of high investor interest.
