Moonshot AI is closing a $31.5bn round and lining up another at up to $50bn before a Hong Kong IPO, riding Kimi K3, even as open-weight AI loses money.

Moonshot AI plans a Hong Kong IPO within six months at a $30B valuation after launching its Kimi K3 model, with implications for tech stocks and crypto

Moonshot AI plans a Hong Kong IPO after Kimi K3 topped global AI benchmarks, as the startup targets a $30 billion valuation and rapid growth.