Moonshot AI Confidentially Files for $3 Billion Hong Kong IPO

Moonshot AI, the developer of the Kimi large language model, has confidentially submitted an A1 application for an initial public offering on the Hong Kong Stock Exchange. The company seeks to raise $3 billion and is reportedly valued at $50 billion in a current funding round that may be its final private capital raise before going public.

To prepare for the listing, the company reportedly unwound its offshore incorporation structure to establish an onshore China domicile. Moonshot AI is working with Goldman Sachs, Deutsche Bank, and China International Capital Corporation to manage the process.

While the company stated it had no comment on the market reports and no information to disclose, the filing follows rumors from August that the company had previously denied.