Chinese AI startup Moonshot AI plans Hong Kong IPO in early 2027 after $50 billion valuation

Moonshot AI, a Chinese artificial intelligence startup, has completed a private funding round at a $50 billion valuation and is preparing for an initial public offering in Hong Kong in early 2027. The company, known for its Kimi chatbot, plans to raise up to $5 billion. Its annual recurring revenue has grown to about $1 billion and is expected to double by December. The IPO faces potential regulatory hurdles as Chinese authorities have opened a data-security probe into Moonshot and rival DeepSeek. Moonshot is backed by Alibaba and Tencent.