Moonshot AI Closes Final Private Round at $50B, Eyes Hong Kong IPO Up to $5B in Q1 2027

Bloomberg reports Moonshot AI has closed its final private fundraising round at roughly $50 billion valuation, up from $35 billion in July and $4.3 billion at the end of 2025, with plans for a Hong Kong IPO in Q1 2027 that could raise up to $5 billion. The Beijing-based Kimi developer's backers include Alibaba, Tencent, and Meituan, with CICC and Goldman Sachs named as joint underwriters. The listing would be one of Hong Kong's most anticipated AI deals as Chinese labs challenge US frontier models.