Moonshot AI Secures Funding, Targets USD 12 Billion Valuation
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Chinese start-up Moonshot AI has added at least USD 700 million to its funding, aiming for a valuation of up to USD 12 billion. The company is known for its powerful Kimi artificial intelligence models.
Existing investors, including Alibaba Group Holding, Tencent Holdings, Andon Hong Kong, and 5Y Capital, jointly led this latest funding round. This follows a previous round just over a month prior.
The new funding round could nearly triple Moonshot AI’s previous valuation of USD 4.3 billion. This reflects a significant increase in investor interest in China’s artificial intelligence enterprises.
Moonshot AI’s latest flagship model, Kimi K2.5, was recognised as one of the "strongest open models in the world," according to third-party benchmark firm Artificial Analysis. Its performance was noted to be a few months behind rival US models.
Following the release of K2.5, the Beijing-based start-up’s overseas revenue surpassed its domestic revenue for the first time. Paid users overseas reportedly grew at a fourfold rate.
The company’s overseas expansion is set to continue with the recent launch of Kimi Claw. This global service allows users to access the viral open-source artificial intelligence agent OpenClaw via Moonshot AI’s platform.
Despite this growth, it remains uncertain whether Moonshot AI will achieve its target valuation in this funding round, which has not yet concluded.
Domestic rivals have also seen significant market capitalisation increases recently. Beijing-based Zhipu AI reached USD 29 billion, while Shanghai-based MiniMax achieved USD 34 billion.
Moonshot AI secured at least USD 700 million in a new funding round.
The company targets a valuation of up to USD 12 billion.
Its Kimi K2.5 model was named one of the "strongest open models in the world."
Source: SCMP
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