Moonshot AI plans Hong Kong IPO in Q1 2027 after US$50 billion valuation
Chinese AI startup Moonshot AI is preparing for a Hong Kong IPO in Q1 2027 after a US$50 billion valuation. It plans early-look meetings from October and may raise up to US$5 billion. Annual recurring revenue is expected to reach US$2 billion by December.
Chinese artificial-intelligence startup Moonshot AI has closed its final private funding round at a valuation of about US$50 billion (HK$390 billion), paving the way for a Hong Kong public listing in the first quarter of 2027, Bloomberg reported on Tuesday, citing people familiar with the matter.
The AI lab has begun preparing to gauge investor interest and plans for early-look meetings starting as soon as this month, the report said, adding that it is considering raising up to US$5 billion. The discussion is ongoing, and the timing of its initial public offering may change, according to the report.
Previously, the Beijing-based company had reportedly added Bank of America as overall coordinator for the deal, while China International Capital Corp, Deutsche Bank and Goldman Sachs are sponsor banks. Moonshot AI has also confidentially filed for the Hong Kong IPO.
As The Information reported earlier that Chinese regulators launched an investigation of DeepSeek and Moonshot AI over data security, it is not clear whether the tightened regulation within the AI industry will affect the valuation and IPO timeline of Moonshot AI.
The stellar Kimi model operator saw its valuation keep climbing in financing rounds, with the previous round this summer valuing it at US$31.5 billion. Its annual recurring revenue is expected to rise to US$2 billion by December from the current US$1 billion.