Moonshot AI, a major Chinese AI company, has completed the final round of private financing ahead of a planned initial public offering in Hong Kong early next year, according to Bloomberg.
Bloomberg reported Tuesday, citing sources familiar with the matter, that the latest funding round valued the company at roughly $50 billion, up from $31.5 billion in a previous round this summer.
The Chinese AI firm is preparing for a Hong Kong IPO in the first quarter of 2027, and could start gauging investor sentiment through meetings as soon as this month, the report said.
Moonshot confidentially filed for an IPO last month and is seeking to raise up to $5 billion in the offering, according to the report. At that size, the listing would rank among the largest Hong Kong public debuts in recent years.
The Latent has reached out to Moonshot for further information.
Scrutiny
Moonshot's IPO push comes as it faces mounting scrutiny at home and abroad. Chinese regulators are reportedly investigating Moonshot and DeepSeek, another Chinese AI lab, for potential data leaks to Anthropic.
The Information reported last month that the Cyberspace Administration of China has summoned representatives from seven Chinese AI companies named in an Anthropic report - DeepSeek, Moonshot, Alibaba, Z.ai, SenseTime, MiniMax, and Xiaomi.
OpenAI has also accused Moonshot of playing a key role in a distillation campaign to extract protected reasoning from its models. In a blog post published last week, OpenAI wrote that it identified thousands of user attempts to extract information that could help others reproduce the model's capabilities.