Moonshot AI, a Beijing-based AI startup best known for the Kimi chatbot, has begun early talks to raise more than US$1 billion, and up to US$2 billion, at a US$30 billion valuation.

The talks come as the company nears the close of a roughly US$2 billion funding round led by Meituan’s venture arm, Long-Z Investments, that valued it at about US$20 billion.

Moonshot has moved quickly through successive fundraising rounds, rising from about US$4.3 billion in late 2025 to US$10 billion after a US$700 million raise in early 2026.

Demand for Kimi has grown rapidly. The chatbot’s app and website were overloaded during a traffic spike in March 2024, while Moonshot’s annual recurring revenue topped US$200 million in April.

A US$30 billion target would put Moonshot closer to Chinese AI peers Zhipu AI and MiniMax, which surpassed US$30 billion in valuation after Hong Kong market debuts earlier in 2026.

Moonshot is also dismantling its offshore structure as it explores an initial public offering in Hong Kong, where AI companies can list under the city’s specialist technology regime.

🔗 Source: Bloomberg

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