Moonshot AI Targets $10 Billion Valuation in New Funding Round

Moonshot AI is aiming for a $10 billion valuation in an expanded funding round already backed by Alibaba Group and Tencent Holdings Ltd., reports Bloomberg. The Beijing-based company began new financing discussions in late January, just weeks after securing $500 million at a $4.3 billion valuation.

Existing investors including Alibaba, Tencent, and 5Y Capital have reportedly committed more than $700 million to the first tranche of this round. Talks are ongoing, and it remains uncertain whether Moonshot will reach its target valuation.

Moonshot, founded by former Tsinghua University professor Yang Zhilin, develops the Kimi chatbot and recently launched its Kimi K2.5 model. The model ranks among the top open-source large language models on benchmarking site Artificial Analysis. The company has also introduced a cloud service for paid users to host the OpenClaw agent.

According to an internal memo cited by Bloomberg, Moonshot holds 10 billion yuan ($1.4 billion) in cash and has seen user growth of over 170% month-on-month between September and November. The company is not currently planning an IPO.