Moonshot AI is now aiming to raise new funds at a $50bn pre-money valuation.
Moonshot AI, the maker behind the world’s largest open-weight AI model, has reportedly closed a $3.5bn funding round at a $35bn valuation.
Sources told Bloomberg that the raise was far higher than the anticipated $1bn to $2bn, highlighting the fervour for cheaper Chinese AI models that are able to compete with their US contemporaries.
China’s National Artificial Intelligence Industry Investment was among the lead investors in the round. The $8bn state-backed fund also invested in DeepSeek’s recent $7.4bn round.
The fresh funding round comes just after Moonshot unveiled Kimi K3 earlier this month, boasting 2.8trn parameters and performances closely rivalling those of OpenAI and Anthropic’s newest models.
