HONG KONG, Oct. 7, 2026 | Chinese AI startup Moonshot AI, maker of the Kimi chatbot, is reportedly eyeing an initial public offering in Hong Kong in early 2027 after its valuation reached about $50 billion, according to a Bloomberg report published Oct. 6. Moonshot has not publicly confirmed the plans. In September, it told media it did not comment on market rumours when asked about reports that it had filed confidentially for a listing.
What Has Been Reported About Moonshot's IPO
Bloomberg's headline says Moonshot is "said to eye early 2027 IPO after value hits $50 billion." The South China Morning Post, citing sources, reported earlier that the Beijing-based company had filed confidentially in Hong Kong and aims to list in the first quarter of 2027, subject to regulatory approvals and market conditions. TechNode reported on Sept. 3, citing Hong Kong outlet HK01, that Moonshot had reportedly submitted a confidential application to the Hong Kong stock exchange and was seeking new capital at a pre-money valuation of about $50 billion, which could be its last private round. The company said then it had no comment on the market report.
Reports differ on the size of the offering, from about $3 billion to as much as $5 billion. Secondary outlets name Goldman Sachs, CICC and Deutsche Bank as sponsors and Bank of America as coordinator, but none of these details is confirmed by the company.
About Moonshot AI and Kimi K3
Moonshot was founded in 2023 by Yang Zhilin, and its investors include Alibaba, Tencent and China Mobile, according to secondary reports. It launched its Kimi K3 model in July, which it says is the largest open-weight model in the world, at 2.8 trillion parameters. Reports on its revenue vary widely, so this story does not cite a figure.
How This Connects to DeepSeek's Funding Round
The Moonshot reports landed a day after Bloomberg reported that DeepSeek is raising at least 80 billion yuan, about US$12 billion, backed by Tencent and CATL, as covered in our DeepSeek funding story. Reuters has also reported that DeepSeek hired CITIC Securities to prepare a possible Shanghai listing. These are separate companies with separate reports, and both are unconfirmed by the companies. Together they show that Chinese AI labs are lining up for large private raises and public listings.
What This Means for AI Investors and Buyers
If Moonshot and DeepSeek do list, public filings would give outsiders their first audited look at revenue and costs at Chinese frontier labs. That would help buyers and investors compare them with U.S. labs on actual numbers. Until then, valuations and revenue claims come from sources and reports, and plans for a listing can shift with market conditions and regulatory approval.
Frequently Asked Questions
Is Moonshot AI planning an IPO?
Bloomberg reports Moonshot AI is eyeing a Hong Kong IPO in early 2027 after its value reached about $50 billion. Moonshot has not publicly confirmed the plans, and told media in September it does not comment on market rumours.
What is Moonshot AI?
Moonshot AI is a Beijing-based AI startup founded in 2023 that makes the Kimi chatbot. Its Kimi K3 model, launched in July, is described by the company as the largest open-weight model in the world.
How big could Moonshot's IPO be?
Reports range from about $3 billion to up to $5 billion. These figures come from secondary outlets, and the company has not confirmed an offering size.