Moonshot AI reportedly plans final pre-IPO round at $50 billion valuation

Moonshot AI, the developer of the Kimi chatbot, reportedly plans to begin talks in August for a final pre-IPO funding round targeting a pre-money valuation of up to $50 billion. The company could pursue a Hong Kong listing within six months.

The round would follow current financing expected to value Moonshot at about $31.5 billion before new capital. The company has also sent an IPO proposal to investors and is preparing to remove its overseas red-chip structure.

Moonshot’s annual recurring revenue reached $300 million in June, up from $100 million in March. The company released Kimi K3 on July 17 and d paid subscriptions for new consumer users two days later after demand exceeded available capacity. [Bloomberg]