China AI Startup Moonshot snags funds at $18 billion valuation
- Mar 15
- 1 min read
The company behind the Kimi chatbot kicked off discussions for the latest round, people familiar with the matter said, after securing more than $700 million earlier this year that valued it at $10 billion. That marks a significant jump from its $4.3 billion valuation in a $500 million tranche toward the end of last year.
The speed of Moonshot’s fundraising reflects growing investor appetite for a group of Chinese startups vying with the likes of OpenAI and Anthropic PBC to develop world-class AI services.
In Hong Kong, rivals Zhipu and MiniMax Group Inc. have recently traded at valuations between $30 billion and $40 billion, with MiniMax at one point surpassing Chinese internet incumbent Baidu Inc. in market capitalization.
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