AI
Key Metrics
Valuation
$35B (Jul 2026)
As of Jul 2026Value Add Pulse research
Revenue run-rate
$300M+ ARR (Jun 2026)
As of Jun 2026Value Add Pulse research
Total funding
$7B+
As of Aug 12, 2026Value Add Pulse research
Company Snapshot
Moonshot AI is a AI infra company, based in Beijing, China, founded 2023. Latest valuation $35B (Jul 2026) (As of Jul 2026, Value Add Pulse research). Total funding $7B+ (As of Aug 12, 2026).
Recent changes
- Sep 11, 2026Sep 11, 2026Moonshot AI Targets $2B Revenue On Kimi K3 Pulse story
- Sep 3, 2026Sep 3, 2026IPO $3B at $50 billion TechNode
- Sep 3, 2026Sep 3, 2026Moonshot AI Confidentially Files for $3B HK IPO Pulse story
- Aug 12, 2026Aug 12, 2026First reported total funding: $7B+ Value Add Pulse enrichment
- Jul 29, 2026Jul 29, 2026Raised $3.5B Series F at a $35B valuation Value Add Pulse enrichment
Earlier changes (7)
- Jul 23, 2026Jul 23, 2026IPO $7.4 billion at $50 billionRumored Fortune
- Jul 22, 2026Jul 22, 2026Moonshot AI Targets $50B Valuation Before IPO Pulse story
- Jul 2026Jul 2026First reported valuation: $35B (Jul 2026) Value Add Pulse enrichment
- Jun 8, 2026Jun 8, 2026Moonshot AI Seeks $2B at a $30B Valuation -- China's Kimi Maker 7x's in Six Months Pulse story
- Jun 2026Jun 2026First reported run rate: $300M+ ARR (Jun 2026) Value Add Pulse enrichment
- Aug 5, 2024Aug 5, 2024Raised $300M Series B+ at a $3.3B valuation Value Add Pulse enrichment
- Feb 19, 2024Feb 19, 2024Raised $1B Series B at a $2.5B valuation Value Add Pulse enrichment
Funding History
5 events · sources dated per row| Date | Event | Amount | Valuation | Investors | Source |
|---|---|---|---|---|---|
| Sep 3, 2026 | ipo | $3B | $50 billion | Pulse story | |
| Jul 29, 2026 | Series F | $3.5B | $35B | Value Add Pulse research | |
| Jul 23, 2026 | ipoRumored | $7.4 billion | $50 billion | Pulse story | |
| Aug 5, 2024 | Series B+ | $300M | $3.3B | Value Add Pulse research | |
| Feb 19, 2024 | Series B | $1B | $2.5B | Value Add Pulse research |
Investors
Latest Pulse
- Sep 11, 2026Moonshot AI Targets $2B Revenue On Kimi K3China's Moonshot AI is targeting $2 billion in annualized revenue by year-end, after its open-weight Kimi K3 model pushed ARR from $300 million in June to over $1 billion in August.→
- Sep 3, 2026Moonshot AI Confidentially Files for $3B HK IPOMoonshot AI, maker of the Kimi chatbot, confidentially filed to list on the Hong Kong Stock Exchange targeting a $3 billion raise at a $50 billion valuation, even as US officials weigh sanctions over its Nvidia chip use.→
- Aug 3, 2026Alibaba Undercuts Kimi K3 With a Cheaper Flagship ModelAlibaba released a new flagship model priced below Kimi K3, its latest open-weight swipe at US frontier labs, extending a pattern of Chinese labs competing primarily on price rather than raw benchmark scores.→
- Jul 31, 2026Lawmakers Press DoorDash on Its Use of Chinese AI ModelsUS House committee chairmen sent DoorDash a letter demanding information on its use of Chinese AI model Kimi K2.6, part of a widening congressional investigation into American companies' exposure to Chinese-built AI systems.→
- Jul 28, 2026Nvidia's Huang Meets Lutnick Amid China ProbeNvidia CEO Jensen Huang met privately with Commerce Secretary Howard Lutnick as the Commerce Department investigates potential violations tied to Blackwell chip exports reaching China, including allegations Chinese lab Moonshot AI used export-controlled Nvidia chips via Thailand.→
- Jul 28, 2026Moonshot Seeks More Blackwell Chips For Next ModelChinese lab Moonshot AI is seeking additional Nvidia Blackwell chips to train Kimi K4, its next model, days after the White House accused it of illegally accessing banned GB300 chips through Thailand-based infrastructure.→
- Jul 27, 2026Kimi K3's Weights Reveal the Real Chip DemandKimi K3's multi-terabyte memory footprint illustrates the real chip-and-memory demand behind claims that the semiconductor industry must grow tenfold for AI agents.→
- Jul 27, 2026Moonshot's Kimi K3 Ships as Largest Open-Weight Model EverMoonshot AI released Kimi K3's full open weights, a 2.8-trillion-parameter model described as the largest open-weight release in history, requiring roughly 1.4 terabytes of memory to run.→
- Jul 26, 2026Moonshot AI Drops Record 2.8 Trillion-Parameter Kimi K3Chinese lab Moonshot AI released the full open weights of Kimi K3, a 2.8 trillion-parameter model, roughly a day ahead of schedule, making it the largest open-weight model released to date.→
- Jul 26, 2026TechCrunch Makes Sense of the Chinese AI PanicA TechCrunch analysis argues the panic following Moonshot's Kimi K3 release reveals more about American AI-competitiveness anxiety than about the model itself.→
Coverage Timeline
newest first- Sep 11, 2026AIMoonshot AI Targets $2B Revenue On Kimi K3$2B ARR target→
- Sep 3, 2026IPOMoonshot AI Confidentially Files for $3B HK IPO$3B target raise→
- Aug 3, 2026AIAlibaba Undercuts Kimi K3 With a Cheaper Flagship Model→
- Jul 31, 2026REGULATIONLawmakers Press DoorDash on Its Use of Chinese AI Models→
- Jul 28, 2026REGULATIONNvidia's Huang Meets Lutnick Amid China Probe→
- Jul 28, 2026AIMoonshot Seeks More Blackwell Chips For Next Model→
- Jul 27, 2026AIKimi K3's Weights Reveal the Real Chip Demand→
- Jul 27, 2026AIMoonshot's Kimi K3 Ships as Largest Open-Weight Model Ever→
- Jul 26, 2026AIMoonshot AI Drops Record 2.8 Trillion-Parameter Kimi K3→
- Jul 26, 2026AITechCrunch Makes Sense of the Chinese AI Panic→
- Jul 24, 2026IPOThe Case For a Chinese AI IPO Wave Riding CXMT's Momentum→
- Jul 23, 2026REGULATIONWhite House Accuses Moonshot of Stealing Anthropic's AI→
- Jul 23, 2026REGULATIONWhite House Accuses Moonshot of Stealing Anthropic's Model→
- Jul 23, 2026IPOMoonshot Preps IPO Under Cloud of US Theft Accusation→
- Jul 23, 2026IPOChina's AI Labs Race Toward A Wave Of IPOs→
- Jul 23, 2026AIWhy Chinese Open-Weight Models Are Repricing the AI Moat→
- Jul 23, 2026REGULATIONMoonshot Accessed Banned Nvidia Chips via Thailand→
- Jul 23, 2026IPOMoonshot, DeepSeek Both Race Toward IPOs After Kimi Shock→
- Jul 22, 2026REGULATIONWhite House Accuses Moonshot of Stealing Anthropic's Fable→
- Jul 22, 2026AINvidia's Jensen Huang Defends Chinese AI Amid Kimi Panic→
- Jul 22, 2026AIMoonshot AI Targets $50B Valuation Before IPO$50B Pre-IPO Target→
- Jul 22, 2026BIG TECHJensen Huang Defends Chinese AI Amid Kimi K3 Panic→
- Jul 21, 2026REGULATIONBessent Threatens China Sanctions Over AI Model 'Theft'→
- Jul 21, 2026AIFrontier Labs and Robotics Keep Dominating Crunchbase's Unicorn Board→
- Jul 20, 2026BIG TECHChip Stocks Enter Bear Market as AI Rally Cracks-24% SOX drawdown→
- Jul 19, 2026IPOChina's Moonshot Plans Hong Kong IPO Within Six Months After Kimi K3 Shock$30B+ target valuation→
- Jul 17, 2026BIG TECHMoonshot's Kimi K3 Sends Chip Stocks Into a Bear MarketSOX -20%+ from peak→
- Jul 17, 2026AIMoonshot's Kimi K3 Erases America's AI Lead$31.5B valuation (reported)→
- Jul 17, 2026REGULATIONXi Pitches China as AI Partner, Warns on Security→
- Jul 16, 2026AIMoonshot's Kimi K3 Claims Near-Frontier Performance$15/1M output tokens→
- Jun 8, 2026FUNDINGMoonshot AI Seeks $2B at a $30B Valuation -- China's Kimi Maker 7x's in Six Months$2B→
All Coverage
AI$2B ARR target
Moonshot AI Targets $2B Revenue On Kimi K3
China's Moonshot AI is targeting $2 billion in annualized revenue by year-end, after its open-weight Kimi K3 model pushed ARR from $300 million in June to over $1 billion in August.
DEEP DIVE
IPO
Moonshot AI Confidentially Files for $3B HK IPO
IPO$3B target raise
Moonshot AI Confidentially Files for $3B HK IPO
Moonshot AI, maker of the Kimi chatbot, confidentially filed to list on the Hong Kong Stock Exchange targeting a $3 billion raise at a $50 billion valuation, even as US officials weigh sanctions over its Nvidia chip use.
FOLLOW-UP
AI
Alibaba Undercuts Kimi K3 With a Cheaper Flagship Model
AI
Alibaba Undercuts Kimi K3 With a Cheaper Flagship Model
Alibaba released a new flagship model priced below Kimi K3, its latest open-weight swipe at US frontier labs, extending a pattern of Chinese labs competing primarily on price rather than raw benchmark scores.
REGULATION
Lawmakers Press DoorDash on Its Use of Chinese AI Models
REGULATION
Lawmakers Press DoorDash on Its Use of Chinese AI Models
US House committee chairmen sent DoorDash a letter demanding information on its use of Chinese AI model Kimi K2.6, part of a widening congressional investigation into American companies' exposure to Chinese-built AI systems.
REGULATION
Nvidia's Huang Meets Lutnick Amid China Probe
REGULATION
Nvidia's Huang Meets Lutnick Amid China Probe
Nvidia CEO Jensen Huang met privately with Commerce Secretary Howard Lutnick as the Commerce Department investigates potential violations tied to Blackwell chip exports reaching China, including allegations Chinese lab Moonshot AI used export-controlled Nvidia chips via Thailand.
AI
Moonshot Seeks More Blackwell Chips For Next Model
AI
Moonshot Seeks More Blackwell Chips For Next Model
Chinese lab Moonshot AI is seeking additional Nvidia Blackwell chips to train Kimi K4, its next model, days after the White House accused it of illegally accessing banned GB300 chips through Thailand-based infrastructure.
AI
Kimi K3's Weights Reveal the Real Chip Demand
AI
Kimi K3's Weights Reveal the Real Chip Demand
Kimi K3's multi-terabyte memory footprint illustrates the real chip-and-memory demand behind claims that the semiconductor industry must grow tenfold for AI agents.
AI
Moonshot's Kimi K3 Ships as Largest Open-Weight Model Ever
AI
Moonshot's Kimi K3 Ships as Largest Open-Weight Model Ever
Moonshot AI released Kimi K3's full open weights, a 2.8-trillion-parameter model described as the largest open-weight release in history, requiring roughly 1.4 terabytes of memory to run.
AI
Moonshot AI Drops Record 2.8 Trillion-Parameter Kimi K3
AI
Moonshot AI Drops Record 2.8 Trillion-Parameter Kimi K3
Chinese lab Moonshot AI released the full open weights of Kimi K3, a 2.8 trillion-parameter model, roughly a day ahead of schedule, making it the largest open-weight model released to date.
AI
TechCrunch Makes Sense of the Chinese AI Panic
AI
TechCrunch Makes Sense of the Chinese AI Panic
A TechCrunch analysis argues the panic following Moonshot's Kimi K3 release reveals more about American AI-competitiveness anxiety than about the model itself.
IPO
The Case For a Chinese AI IPO Wave Riding CXMT's Momentum
IPO
The Case For a Chinese AI IPO Wave Riding CXMT's Momentum
Value Add Pulse analysis: CXMT's $8.6 billion Shanghai debut and the Moonshot/DeepSeek open-model rush suggest Chinese AI and semiconductor companies are finding a public-market window U.S. peers currently lack.
REGULATION
White House Accuses Moonshot of Stealing Anthropic's AI
REGULATION
White House Accuses Moonshot of Stealing Anthropic's AI
White House OSTP Director Michael Kratsios accused Moonshot AI of covertly distilling Anthropic's Fable model to build Kimi K3 and of accessing banned Nvidia GB300 chips through servers in Thailand, opening the door to sanctions.
REGULATION
White House Accuses Moonshot of Stealing Anthropic's Model
REGULATION
White House Accuses Moonshot of Stealing Anthropic's Model
White House OSTP Director Michael Kratsios accused Chinese lab Moonshot AI of covertly distilling Anthropic's Fable model to build its viral open-weight Kimi K3, a claim AI researchers say lacks supporting evidence.
IPO
Moonshot Preps IPO Under Cloud of US Theft Accusation
IPO
Moonshot Preps IPO Under Cloud of US Theft Accusation
Moonshot AI is advancing its own IPO preparations even as the White House publicly accuses it of covertly distilling Anthropic's model to build its viral open-weight Kimi K3, a claim Moonshot disputes and researchers say lacks public evidence.
IPO
China's AI Labs Race Toward A Wave Of IPOs
IPO
China's AI Labs Race Toward A Wave Of IPOs
Moonshot, DeepSeek, MiniMax and Z.ai are all pursuing or completing public listings within months of each other, a compressed wave of Chinese AI IPOs that resets how investors value the entire sector.
AI
Why Chinese Open-Weight Models Are Repricing the AI Moat
AI
Why Chinese Open-Weight Models Are Repricing the AI Moat
Kimi K3's 2.8 trillion parameters and Qwen 3.8-Max's 2.4 trillion, both claiming near-frontier performance at a fraction of the cost, are forcing investors to reprice what a durable AI moat actually looks like.
REGULATION
Moonshot Accessed Banned Nvidia Chips via Thailand
REGULATION
Moonshot Accessed Banned Nvidia Chips via Thailand
White House adviser Michael Kratsios accused Moonshot AI of accessing export-controlled Nvidia GB300 chips through servers in Thailand to train Kimi K3, circumventing export controls without importing hardware into China.
IPO
Moonshot, DeepSeek Both Race Toward IPOs After Kimi Shock
IPO
Moonshot, DeepSeek Both Race Toward IPOs After Kimi Shock
Moonshot AI is preparing a Hong Kong listing within six months and DeepSeek is targeting Shanghai's STAR Market by Q2 2027, as China's AI labs race toward public markets after Kimi K3's shock.
REGULATION
White House Accuses Moonshot of Stealing Anthropic's Fable
REGULATION
White House Accuses Moonshot of Stealing Anthropic's Fable
The White House accused Chinese AI startup Moonshot of illegally distilling Anthropic's Fable model to build Kimi K3, and Treasury Secretary Scott Bessent said sanctions and Entity List designations remain on the table.
AI
Nvidia's Jensen Huang Defends Chinese AI Amid Kimi Panic
AI
Nvidia's Jensen Huang Defends Chinese AI Amid Kimi Panic
Nvidia CEO Jensen Huang publicly pushed back on the panic sparked by Moonshot AI's cut-rate Kimi K3 model, arguing competitive Chinese open-weight AI is good for the overall compute market rather than a threat to it.
AI
Moonshot AI Targets $50B Valuation Before IPO
AI$50B Pre-IPO Target
Moonshot AI Targets $50B Valuation Before IPO
Moonshot AI plans to open talks in August for a final pre-IPO funding round targeting a $50 billion valuation, nearly 60% above the $31.5 billion round it is currently closing.
BIG TECH
Jensen Huang Defends Chinese AI Amid Kimi K3 Panic
BIG TECH
Jensen Huang Defends Chinese AI Amid Kimi K3 Panic
Nvidia's Jensen Huang told Axios that Wall Street has misread Kimi K3's threat, arguing cheap, open Chinese models expand demand for chips rather than destroy it, and that 'zero possibility' exists of China running US AI labs off the road.
REGULATION
Bessent Threatens China Sanctions Over AI Model 'Theft'
REGULATION
Bessent Threatens China Sanctions Over AI Model 'Theft'
Treasury Secretary Scott Bessent said the US could sanction China after finding what he called 'watermarks' of American LLMs embedded in Chinese models, directly naming distillation concerns around Moonshot AI's Kimi K3.
AI
Frontier Labs and Robotics Keep Dominating Crunchbase's Unicorn Board
AI
Frontier Labs and Robotics Keep Dominating Crunchbase's Unicorn Board
Frontier AI labs and robotics companies topped Crunchbase's new-unicorn count for consecutive months in 2026, with DeepSeek joining Chinese peers like Moonshot AI and StepFun in raising billion-dollar rounds this quarter.
BIG TECH
Chip Stocks Enter Bear Market as AI Rally Cracks
BIG TECH-24% SOX drawdown
Chip Stocks Enter Bear Market as AI Rally Cracks
The Philadelphia Semiconductor Index has fallen 24% from its June record into a confirmed bear market after Moonshot AI's cut-rate Kimi K3 model undercut the thesis that frontier-adjacent AI requires frontier-level compute spend.
IPO
China's Moonshot Plans Hong Kong IPO Within Six Months After Kimi K3 Shock
IPO$30B+ target valuation
China's Moonshot Plans Hong Kong IPO Within Six Months After Kimi K3 Shock
Moonshot AI has told investors it plans to list in Hong Kong within six months at a valuation above $30 billion, accelerating its IPO timeline after Kimi K3 -- a 2.8-trillion-parameter open-weight model -- matched frontier US labs and briefly wiped hundreds.
BIG TECH
Moonshot's Kimi K3 Sends Chip Stocks Into a Bear Market
BIG TECHSOX -20%+ from peak
Moonshot's Kimi K3 Sends Chip Stocks Into a Bear Market
China's Moonshot AI unveiled a 2.8-trillion-parameter open-weight model that benchmarks competitively with GPT-5.6 and Claude Fable 5, dragging the Philadelphia Semiconductor Index into a technical bear market and handing Wall Street its worst week in a month.
AI
Moonshot's Kimi K3 Erases America's AI Lead
AI$31.5B valuation (reported)
Moonshot's Kimi K3 Erases America's AI Lead
Chinese startup Moonshot AI released Kimi K3, a 2.8-trillion-parameter open model that topped a leading benchmark ahead of Claude and GPT-5.6, prompting Axios to declare China has erased America's AI lead.
REGULATION
Xi Pitches China as AI Partner, Warns on Security
REGULATION
Xi Pitches China as AI Partner, Warns on Security
Xi Jinping pitched China as an AI partner to the developing world at a Beijing summit while warning against security overreach, a dual message landing the same week Moonshot's Kimi K3 topped US labs on a leading benchmark.
AI
Moonshot's Kimi K3 Claims Near-Frontier Performance
AI$15/1M output tokens
Moonshot's Kimi K3 Claims Near-Frontier Performance
Moonshot AI's Kimi K3 is a 2.8-trillion-parameter open-weight model that ranks third on Artificial Analysis's GDPval-AA v2 benchmark behind only Claude Fable 5 Max and GPT-5.6 Sol Max, with open weights promised by July 27.
FUNDING
Moonshot AI Seeks $2B at a $30B Valuation -- China's Kimi Maker 7x's in Six Months
FUNDING$2B
Moonshot AI Seeks $2B at a $30B Valuation -- China's Kimi Maker 7x's in Six Months
Beijing's Moonshot AI, the lab behind the Kimi chatbot, is in talks to raise up to $2B at a $30B valuation -- its third financing in six months and a roughly 7x markup from December 2024. With ARR past $200M, it's now in the front rank of Chinese labs chasing OpenAI and Anthropic.
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Where these figures come from
Figures are labelled Reported (a source states it), Estimated, Derived (computed from other facts) or Rumored (in talks / unconfirmed). Rumors never replace a confirmed figure. Each figure keeps its own as-of date; history is preserved rather than overwritten.