Moonshot AI launches Pre-IPO round at $50B pre-money valuation
Multiple media reports say Moonshot AI has opened a Pre-IPO round at a $50B pre-money valuation, after closing a $3.5B+ Series F in late July. Investors must wire funds by August 15; the company plans to file for an IPO within the year.
According to multiple media reports including Sci-Tech Innovation Board Daily and Bloomberg, Moonshot AI has pre-opened the Pre-IPO round (Series G), originally scheduled for August, after closing a $3.5B+ Series F in late July. The pre-money valuation is set at $50B, with participating institutions required to wire funds by August 15. The round requires participating asset managers to have at least $500M AUM.
The rapid valuation jump is driven by both model capability and revenue acceleration. Flagship model Kimi K3, released July 16, totals 2.8 trillion parameters with MoE sparse architecture, a 1M-token context, and topped the Frontend Code Arena at 1679, becoming the first open-source model to surpass leading closed-source flagships on front-end coding. Commercialization has crossed milestones, with ARR exceeding $100M in March, $200M in April, and $300M by mid-June; APIs contribute roughly 70% of revenue.
Core investors include Alibaba, Tencent, Meituan Longzhu, China Mobile, and CPE Source Peak. Moonshot has stated that secondary share transfers must be approved by the company; unapproved transfers are invalid.