Moonshot AI reported at $50B valuation, targeting Q1 2027 Hong Kong IPO
Bloomberg, citing unnamed people, reported that Moonshot AI has closed a final funding round at a valuation of about $50 billion and plans to list in Hong Kong in the first quarter of 2027; the report follows an earlier one that the company filed a confidential A1 listing application. The article says Moonshot released Kimi K3 in July, with annualized recurring revenue rising from $100 million in March to $1 billion in August and a possible $2 billion by year-end, while September brought the K2.8 Preview rollout, an enterprise partner program, and Kimi K3 on Amazon Bedrock, lifting its valuation from roughly $10 billion at the start of the year to about $50 billion. The funding, valuation and IPO timeline all rest on anonymous sources and have not been confirmed by the company.
If confirmed, it adds another large model developer to the IPO queue and highlights how competition is shifting from raw model capability toward compute costs and sustainable commercialization.