Moonshot AI Firm Files for Hong Kong IPO, Eyes $3 Billion Raise

Beijing-based startup Moonshot, known for its Kimi large language model, has confidentially filed for a Hong Kong initial public offering with the aim of raising $3 billion. The company’s latest version, Kimi K3, released in July, has garnered positive reviews and sparked robust demand. Moonshot is currently in discussions with Microsoft, Amazon, and Google regarding revenue-sharing agreements to enable these U.S. cloud giants to host the Kimi model. Moonshot has been valued at $50 billion in an ongoing funding round, placing it slightly below competitors like DeepSeek valued at around $74 billion and Z.AI with a market capitalization of $66…