Moonshot AI eyes $2 billion raise, $30 billion valuation

Chinese artificial intelligence company Moonshot AI is in early discussions to raise up to $2 billion in a new funding round that would value the startup at approximately $30 billion, according to people familiar with the matter. This would represent the company's third major financing effort in just six months, reflecting the intense competition and rapid valuation growth within China's AI sector.

The Beijing-based developer of the Kimi chatbot is seeking the new capital even as it finalizes a previous funding round led by Meituan that valued the company at $20 billion. If successful, the latest round would mark a dramatic increase from Moonshot's valuation of just over $4 billion in December 2025, a more than six-fold rise in half a year. The company aims to raise between $1 billion and $2 billion.

Moonshot's financial metrics have shown significant growth, with its annual recurring revenue reaching roughly $200 million by April 2026, roughly double the figure from the start of March. The company generates revenue through tiered subscription plans for its Kimi chatbot and by licensing its underlying technology to enterprise clients.

A competitive hierarchy is solidifying among...