Kimi's parent company Moonshot AI initiates Hong Kong IPO, plans to raise funds at a $50 billion valuation

Odaily News: Moonshot AI, the parent company of Kimi, has submitted an A1 filing to the Hong Kong Stock Exchange under a confidential format, officially commencing its Hong Kong IPO process. Concurrently, the company is advancing a new funding round at a pre-investment valuation of approximately $50 billion, which is expected to be the final round before the IPO. Citing public and market information, the report noted that Kimi has accelerated its model iteration this year, successively releasing K2.5, K2.6, and K3, with updates following a cadence of roughly one version every three months. On the revenue front, Kimi's ARR surpassed $100 million in early March this year and grew to approximately $300 million by mid-June. Following the release of K3, enterprise-side ARR experienced several-fold growth. As call volumes and computational power demand have risen, Moonshot AI has raised its valuation from approximately $4.3 billion at the end of 2025 to the current ~$50 billion through multiple funding rounds. (LatePost)