Kimi's parent company, Moon's Dark Side, plans to go public in Hong Kong, with a valuation of $18 billion.

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Source: Dawan Thinking

On March 26, multiple media outlets cited sources familiar with the matter stating that Chinese AI unicorn “Moonshot AI” is evaluating an IPO in Hong Kong and has initiated preliminary discussions with China International Capital Corporation and Goldman Sachs regarding potential underwriting.

Currently, the listing plan is still in the early stages, with the specific timeline and financing scale yet to be determined, and there is even a possibility that it may not proceed.

While preparing for the IPO, Moonshot AI is simultaneously advancing a new round of financing, which could reach up to $1 billion, corresponding to a company valuation of about $18 billion (approximately over 120 billion yuan).

As one of the leading players in the domestic large model sector, Moonshot AI was founded by a Tsinghua University team, and its core product Kimi has recently been upgraded to version K2.5, capable of processing text, images, and videos simultaneously under a single prompt, while also pushing the AI Agent product “Kimi Claw” to market.

It is noteworthy that, as Zhizhu AI and MiniMax have both recently listed on the Hong Kong Stock Exchange and achieved high valuation performance, market enthusiasm for AI company IPOs has significantly increased, further amplifying the expectations for Moonshot AI’s listing.

In terms of timing, this company was established only three years ago, with its valuation rapidly jumping from several billion dollars to the $18 billion range, making it one of the most capital-imaginative companies in China’s AI sector.

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