Moonshot AI hits $50 billion valuation, eyes Hong Kong IPO in early 2027

Moonshot AI has completed a funding round that values the Beijing-based startup at $50 billion, according to Bloomberg. The company plans to go public in Hong Kong in early 2027. A valuation that keeps changing shape The company was valued at around $4.3 billion at the end of 2025. By May 2026, it had raised more than $2 billion at a $20 billion valuation. In July 2026, it pulled in $3.5 billion at a $35 billion post-money valuation. Now it sits at $50 billion. Total capital raised now exceeds $5.5 billion. Backers include Alibaba, Tencent, and China Mobile. The IPO plan and the model behind it Moonshot has confidentially filed for a Hong Kong listing that aims to raise about $3 billion. Goldman Sachs, CICC, and Deutsche Bank are among the underwriters supporting the offering. Bloomberg points to early 2027 for the listing, though the window could open as early as late 2026. The engine behind the hype is Kimi, the company’s family of large language models. Its flagship, Kimi K3, launched in July 2026 with 2.8 trillion parameters and a 1-million-token context window, making it the largest open-weight model in the world. Open-weight means developers can download and run the model the...