Moonshot AI, a Beijing-based AI start-up, has confidentially filed for an initial public offering in Hong Kong and is targeting a listing as early as the first quarter of 2027, according to two people familiar with the matter.

The report said the timeline remains subject to regulatory approvals and market conditions.

It also said Moonshot is seeking a final funding round before the IPO that could value the company at about US$50 billion.

That target would exceed the company’s previously reported valuation. Moonshot reached US$35 billion in a July 2026 funding round, while a separate report said a roughly US$3.5 billion raise had tripled its valuation.

Moonshot said it “doesn’t comment on market rumours or speculation”.

The company drew attention in July after releasing Kimi K3, which was described as an open-weight model with more than 2.8 trillion parameters.

The reported filing would follow Hong Kong’s expansion of confidential listing arrangements for some applicants, a change that has triggered a wave of such IPO submissions.

🔗 Source: South China Morning Post

Recent Moonshot AI developments