Bank of America Exits Moonshot AI Hong Kong IPO Group
Bank of America has been dropped from the group of banks managing Moonshot AI's planned $5 billion Hong Kong initial public offering.
Moonshot AI, a Beijing-based artificial intelligence company, has removed Bank of America from the group of banks managing its planned initial public offering in Hong Kong. While the bank had discussed an overall coordinator role, a formal mandate was never established.
The company targets a first-quarter 2027 IPO to raise up to $5 billion, based on a current valuation of approximately $50 billion. Goldman Sachs remains the only U.S. bank serving as a sponsor for the offering, alongside China International Capital Corp. and Deutsche Bank.
Moonshot AI faces significant regulatory pressure from United States authorities. These include allegations that its Kimi K3 model was derived from Anthropic models and trained using restricted Nvidia chips. Additionally, the company is subject to a data-security probe involving its rival, DeepSeek.
