Kimi K3 developer Moonshot AI expedites fundraising ahead of planned IPO, source says

Chinese Artificial Intelligence unicorn Moonshot AI, whose release of its Kimi K3 model last week sparked talk of another “DeepSeek moment”, has accelerated its fundraising ahead of a planned initial public offering (IPO) in Hong Kong, eyeing a new financing round as early as next month, a source says.The Beijing-based company was set to close its current funding round at a US$30 billion valuation later this month or early next month, according to a person familiar with the matter. It planned to launch a subsequent round as early as August, the person added.The start-up was targeting a valuation of up to US$50 billion, in what was expected to be its final private raise before listing, Bloomberg reported on Wednesday.