The Chinese company Moonshot AI raised $3.5 billion during a recently closed financing round, bringing its valuation to $35 billion, driven by the momentum achieved by the Kimi K3 artificial intelligence model, which aroused widespread interest in Silicon Valley.
Bloomberg, citing sources, reported that the Chinese company initially targeted to raise between one and two billion dollars only, but it was able to exceed this goal by a large margin.
The sources added that the company is seeking to attract investors for a new financing round at an initial valuation of $50 billion, in a step that may be the last before its initial offering on the Hong Kong Stock Exchange later this year.
The sources indicated that the company’s annual revenues rose to $300 million by last June, compared to $200 million in April, while its daily sales jumped more than 6-fold since the launch of the “Kemi K3” model last month.
