---
title: "Moonshot AI raised $3.5B at a $35B valuation - and is already raising at $50B"
url: https://stacklist.com/card/bc5e3667-6ecc-4c61-8572-bd8097ecc94e
source_url: "https://ca.finance.yahoo.com/news/china-moonshot-ai-passes-funding-081902952.html"
stack: https://stacklist.com/c/finance/stack/b29a0779-37ee-4177-95ec-7026903a8847
summary: "Moonshot AI, a Beijing-based startup, closed a $3.5 billion funding round at a $35 billion valuation, surpassing its initial $1-2 billion target. The company is already seeking a new round at a $50 billion pre-money valuation ahead of a planned Hong Kong IPO, buoyed by the breakout success of its Kimi K3 model."
tags: "ai-funding, moonshot-ai, large-language-model, china-ai, venture-capital, open-weight, ipo"
key_entities: "Moonshot AI (organization), Kimi K3 (technology), Beijing (location), Bloomberg (organization), Anthropic PBC (organization), OpenAI (organization), Nvidia Corp. (organization), Hong Kong (location), Silicon Valley (location), open-weight model (concept), distillation (concept), DeepSeek moment (event), China (location)"
classification: "analysis"
content_hash: "sha256:2d11f23b726a2b7ed37d8fc3f71637737c1c7bcd0f8825605b4b0d96c9ec90d3"
acp_version: "0.2"
token_counts_approximate: 803
visibility: public
agent_accessible: true
status: "final"
---

# Moonshot AI raised $3.5B at a $35B valuation - and is already raising at $50B

China’s Moonshot AI Passes Funding Goal to Hit $35 Billion Value Bloomberg News Wed, July 29, 2026 at 4:19 a.m. EDT 2 min read NVDA (Bloomberg) -- Moonshot AI secured a $35 billion valuation after raising a larger-than-anticipated $3.5 billion in a just-closed round of financing, riding the momentum from a breakthrough Kimi K3 model that sent ripples through Silicon Valley. Most Read from Bloomberg US Intercepts Iran Attack on Bases, Puncturing Days of Calm Nvidia's $750 Billion in Deals Reignite Circular AI Fears SK Hynix Profit Disappoints, Spending Soars to $31 Billion Chip Rout Deepens on Circular Funding, China Competition Fears Apple Set to Make Big Smart Home Push With Siri AI at Center The Beijing-based startup managed to secure far more than the $1 billion to $2 billion it initially targeted, people familiar with the matter said, asking not to be identified to talk about private information. Moonshot is now reaching out to potential backers for a new funding round at a $50 billion pre-money valuation, aiming to secure capital a final time before an initial public offering in Hong Kong as soon as this year. A Moonshot spokesperson didn't respond to an emailed request for comment. The Chinese startup's frenetic deal-making underscores the enormous investor interest in a private firm that this month leapt to the forefront of the industry with the K3, which approached the performance of frontier models by Anthropic PBC and OpenAI. Its debut triggered a selloff in tech stocks and was hailed as another "DeepSeek moment" — providing evidence that the country's AI labs can keep pace with the US despite export curbs and computing constraints. Moonshot on Monday released its weights — the numeric values the model learned during training — — allowing developers to download, tweak and host the technology freely. Moonshot's success has also thrust it into the center of US-Chinese tensions. A White House official accused the company of training the K3 on restricted Nvidia Corp. chips, while reiterating allegations of distillation — the practice of extracting outputs from top competitors to boost performance. Moonshot has not responded to requests for comment on the matter. Moonshot developed the K3 with 2.8 trillion parameters — a rough measure of AI complexity — making it the world's largest open-weight model at a time when US rivals keep their technology proprietary. The model also features a 1 million-token context window, enabling it to process massive documents or codebases in a single prompt. Moonshot achieved $300 million of annual recurring revenue — a gauge of future sales — in June, jumping from $200 million in April, Bloomberg News reported earlier. Since the K3's launch, daily sales have surged at least six times, one person familiar with the matter has said. Story Continues Most Read from Bloomberg Businessweek Canada's MAGA-Friendly Premier Advances Her Pro-Oil Agenda The Menopause Gold Rush Is Failing Women The Bitcoin Slump Is Crushing Companies That Stockpiled Tokens The AI Industry Is Trying to Fix Its Image Problem Brewers Are Betting on Vietnam to Drive Much-Needed Growth ©2026 Bloomberg L.P. Terms and Privacy Policy Your Privacy Choices