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Moonshot AI raises more than $3.5 billion at $35 billion valuation

Moonshot AI raises more than $3.5 billion at $35 billion valuation

Moonshot AI’s latest financing reportedly closed early after demand exceeded the target by more than three times, with investors now said to be discussing a G-round pre-IPO raise at a $50 billion pre-money valuation.

Fact Check
Three independent Chinese news aggregators (Odaily, BlockBeats, PANews) all report the exact figures in the claim (>US$3.5 billion raised, US$35 billion valuation) on 2026-07-29. However, they all attribute it to a single originating source, Jinshi (金十), and frame it as a market rumor ('市场消息' / '据称'), not an official Moonshot AI announcement. No primary official source (company press release, IR filing, or regulatory record) confirming these figures was found, and earlier 2026 reporting cited a smaller round, so the figure cannot yet be independently confirmed.
    Reference: 123
Summary

Moonshot AI, the developer of the Kimi chatbot, has completed an F round of more than $3.5 billion at a $35 billion post-money valuation, according to STAR Market Daily. The report said investor demand exceeded the target by more than three times, leading the company to close the round early and accelerate plans for a G-round pre-IPO financing at a reported $50 billion pre-money valuation. The fundraising push follows the July release and open-weight launch of Kimi K3, the company’s latest model. Moonshot had previously raised about $3.5 billion in total, including a roughly $2 billion Series D in May 2026 that valued the company at $20 billion post-money. Founded in 2023 by Yang Zhilin, the Beijing startup has attracted backing from Alibaba, Tencent, HongShan, IDG Capital, Gaorong Capital and Meituan’s venture capital arm, and is also reportedly preparing for a potential Hong Kong IPO.

Terms & Concepts
  • post-money valuation: A company’s estimated value immediately after new investment has been added.
  • pre-money valuation: A company’s estimated value before a new investment round is included.
  • open-weight: An AI model release approach in which model weights are made available for broader use or adaptation.