According to Ming Pao, Chinese AI startup Moonshot AI is seeking to expand its funding round, with a target of up to $1 billion. Upon completion, the company’s valuation is expected to reach approximately $18 billion. In terms of valuation, after raising $500 million at the end of last year, the company was valued at $4.3 billion; in February this year, it raised an additional $700 million, raising its valuation to $10 billion, with both Alibaba and Tencent participating in the investment. The investors for this current round have not yet been confirmed. Moonshot AI’s flagship product is the Kimi chatbot.
Moonshot AI seeks $1 billion in funding, with valuation potentially reaching $18 billion.
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Summary
Moonshot AI, a Chinese AI startup, is in discussions for a $1 billion funding round that could value the company at $18 billion. The firm raised $500 million in late 2023 at a $4.3 billion valuation, followed by a $700 million raise in February 2024, increasing its valuation to $10 billion. Alibaba and Tencent backed that round. The investors for the new funding have not been disclosed. The announcement underscores the company’s rapid growth; its flagship product is the Kimi chatbot. The intersection of AI and crypto continues to generate high-profile developments.
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