Beijing-based Moonshot AI, an AI startup, told investors its annual recurring revenue passed US$1 billion in August and that it is targeting an annualized sales rate of US$2 billion by year-end, according to people familiar with the matter.

The jump followed the July release of its Kimi K3 model. Moonshot is raising funds at a US$50 billion valuation after a late-July round that raised US$3.5 billion and valued it at US$35 billion.

Moonshot is also expanding from coders and solo entrepreneurs to enterprise clients such as AsiaInfo Technologies and Kingsoft Cloud.

A Hong Kong initial public offering could come as soon as this year, though any listing would need to meet the exchange’s specialist-technology requirements, including for some pre-profit AI companies.

Anthropic this week accused Moonshot of covertly routing user requests to Claude, Anthropic’s AI model, and said it believed the responses were used to train Moonshot’s software.

Moonshot has not publicly addressed the allegation.

🔗 Source: Bloomberg

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