Moonshot AI Kimi starts Pre-IPO Series G at $35 billion valuation
Moonshot AI recently completed about $3.5 billion in funding at a reported $35 billion valuation; investor Sinovation Ventures is also raising a $500 million AI-focused fund.
Reported on August 5: Moonshot AI, developer of the Kimi large model, recently completed about $3.5 billion in funding at a reported $35 billion valuation (about ¥337.3 billion). Moonshot has launched its Series G Pre-IPO round.
Early investor Sinovation Ventures is also raising a roughly $500 million AI-focused fund, showing capital is not only chasing model companies but also competing for access channels into these scarce projects.
Funding demand has not disappeared with listings. Zhipu placed 19.78 million shares at ¥1588 in July, netting about ¥31.375 billion; MiniMax raised via share placement and zero-coupon convertible bonds. Capital markets are rapidly repricing China's top AI model companies upward, in sync with the trend in US AI giant valuations.