Moonshot AI eyes US$30 billion valuation as China’s AI race intensifies

AI Summary

Moonshot AI, a Beijing-based developer of the Kimi chatbot, aims to raise $1 billion to $2 billion in funding, potentially achieving a $30 billion valuation. The company is intensifying its position in China's competitive artificial intelligence market.

Moonshot AI, the developer of China’s popular Kimi chatbot, is seeking to raise between US$1 billion and US$2 billion in a new funding round that could value the company at as much as US$30 billion, according to a person familiar with the matter, as competition among the country’s leading artificial intelligence developers intensifies. The Beijing-based company was targeting a valuation roughly 50 per cent higher than the US$20 billion it achieved in its previous financing round, completed in...