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

Moonshot AI, developer of the Kimi chatbot, plans to begin talks in August for a final pre-IPO funding round targeting a pre-money valuation of up to $50 billion, according to Bloomberg. The company, which could pursue a Hong Kong listing within six months, reported annual recurring revenue of $300 million in June, up from $100 million in March.

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 paused paid subscriptions for new consumer users two days later after demand exceeded available capacity. Bloomberg https://www.bloomberg.com/news/articles/2026-07-22/moonshot-ai-plans-fundraising-round-at-50-billion-valuation