Moonshot is chasing a $50bn valuation, and it wants two funding rounds to get there

Chinese AI startup Moonshot AI is rapidly raising funds, aiming for a $31.5 billion valuation soon and a $50 billion valuation in a second round before a potential Hong Kong IPO this year. The company recently launched Kimi K3, a large open-weight AI model, boosting revenue and market interest despite challenges in the open-weight AI business model. Moonshot's founder Yang Zhilin leads a 300-person team, with backing from major investors like Tencent and Meituan.