Beijing-based Moonshot AI recently raised US$500 million...

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·6 months ago
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Beijing-based Moonshot AI recently raised US$500 million in a Series C funding round, according to a report on Wednesday by Chinese technology news outlet LatePost. https://www.scmp.com/tech.. Private equity firm IDG Capital invested US$150 million investment to lead the round, with existing stakeholders Alibaba Group Holding and Tencent Holdings also participating. The fresh injection of capital pushed Moonshot AI’s valuation to US$4.3 billion, according to the report. The company now holds more than 10 billion yuan (US$1.4 billion) in cash reserves, LatePost reported, citing an internal letter by founder and CEO Yang Zhilin dated Wednesday. Shanghai-based MiniMax on Wednesday kicked off its Hong Kong IPO, seeking to raise up to HK$4.19 billion (US$538 million) to support its growth, as competition intensifies in China’s fast-moving AI sector. Zhipu AI, marketed overseas as Z.ai, launched its Hong Kong share sale on Tuesday, with the goal of raising HK$4.35 billion. #🇨🇳 ChinA.I. 🤖🧠🦾🤖
China’s Moonshot AI raises US$500 million in latest funding round: report
www.scmp.com

China’s Moonshot AI raises US$500 million in latest funding round: report

The Kimi AI model developer is now valued at US$4.3 billion, with cash reserves worth US$1.4 billion.

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