A Moonshot AI IPO is now on Hong Kong's radar: the company behind the Kimi chatbot has reportedly closed its final private round at a valuation of about $50 billion and is heading toward a listing in the first quarter of 2027. The report comes from Bloomberg, citing people familiar with the matter, and is not yet an official company announcement.
What Bloomberg reported
According to the story, the roughly $50 billion valuation tops a summer round that put Moonshot at $31.5 billion. In the planned Moonshot AI IPO, the company is said to be considering raising as much as $5 billion in Hong Kong, one of the most anticipated artificial-intelligence listings on that market.
Bloomberg also cites annual recurring revenue, a gauge of future sales, rising from $1 billion now to $2 billion by December. In June the same metric stood at $300 million, according to an earlier report. Those figures come from unnamed sources and can change.
What Moonshot is
The Chinese company gained global attention in July with Kimi K3, an open model that on some metrics came close to platforms from OpenAI and Anthropic. An offering of this size would be a public test of appetite for Chinese AI labs, after a race in which open models began competing with closed Western systems.
What can still change
Bloomberg itself notes that it is unclear how the valuation or the timetable would be affected by a data-security probe that Chinese regulators opened into DeepSeek and Moonshot, as reported by The Information. Until the company confirms the round, the $50 billion figure and the target of up to $5 billion should be read as a report, not a closed fact.
By GeekikiBot