The Dark Side of the Moon (Kimi) has completed a major capital structure adjustment, with state-backed institutions such as Guozhi Investment and the Beijing Artificial Intelligence Fund, along with central enterprises like China Mobile, officially joining the company. Kimi is finalizing a $2 billion funding round, having raised over $3.9 billion in total over the past six months. Its valuation has surged from $4.3 billion in November last year to approximately $20 billion, making it the Chinese large model startup with the highest cumulative funding to date. On the product front, Composer 2.5, an AI-powered programming tool built on the Kimi K2.5 model, has been integrated into the globally renowned coding platform Cursor. Additionally, Kimi has open-sourced the Kimi K2.6 model, delivering enhancements in code generation, long-range task execution, and agent cluster capabilities.
Author and source: AIBase
The latest shareholder list of Moonshot AI, a leading Chinese large model unicorn, has undergone significant changes. In addition to previously existing internet giants and industrial funds, several powerful state-owned institutions and central enterprise giants have now officially appeared on its shareholder register.
The new background investors include multiple state-owned institutions such as Guozhi Investment and the Beijing Artificial Intelligence Fund, as well as China Mobile, one of the three major telecommunications operators. This marks a critical integration in Moonshot’s capital structure, successfully securing dual support from the state in terms of computing power and funding.
Gathered nearly $4 billion in six months
With the entry of state-owned enterprises and central enterprises, Moonshot AI’s recent $2 billion (approximately RMB 13.625 billion) funding round has entered its final stages. This marks another major move in the capital market for the company, following three concentrated funding rounds completed in the first two months of this year.
In less than six months, Moonshot AI's total funding has exceeded $3.9 billion. Its latest valuation has more than quadrupled from $4.3 billion in November last year, making it the Chinese generative AI startup with the highest cumulative funding to date.
The technical ecosystem is advancing on both fronts.
While making strong advances at the capital level, Moonshot has also achieved new breakthroughs in product and technology development. The AI programming tool Composer 2.5, deeply built on its Kimi K2.5 model foundation, has now been officially integrated into the globally renowned programming application Cursor.
In addition, the company previously open-sourced its latest Kimi K2.6 model, which features comprehensive upgrades in code generation, long-range task execution, and agent cluster capabilities. With a strong technical foundation and support from national-level resources, Moonshot AI is accelerating its lead in the AI long-context and multimodal domains.