Moonshot AI, the Chinese company behind the Kimi chatbot, is seeking a valuation of up to $30 billion in a new funding round. This would be more than six times the $4.3 billion it was valued at in late 2025, according to the South China Morning Post, which cited a person familiar with the matter. The Beijing-based company aims to raise between one and two billion dollars. Annual recurring revenue doubled to roughly $200 million by April.
Moonshot's current flagship, Kimi K2.6, reportedly matches GPT-5.4 and Claude Opus 4.6 on coding benchmarks. However, China's AI market is crowded, with competitors like DeepSeek, Alibaba, and MiniMax. As recently as April, DeepSeek released V4-Pro, the largest open-weights model to date, which is bigger than Kimi K2.6 and far cheaper than the competition. Moonshot is also preparing a possible IPO in Hong Kong and is reportedly unwinding its offshore corporate structure to make that happen.
Source: thedecoder
