Moonshot AI Closes Fundraising at $50 Billion Valuation, Eyes Q1 2027 Hong Kong IPO

Moonshot AI has closed its final private fundraising round at a valuation of approximately $50 billion and is preparing for an initial public offering in Hong Kong in the first quarter of 2027, according to people familiar with the matter. The Chinese AI developer has begun early-look investor meetings and is considering raising up to $5 billion. Moonshot's valuation has climbed steadily, rising from $31.5 billion in a prior round this summer. Annual recurring revenue is projected to reach $2 billion by December, up from $1 billion currently and $300 million in June. The company is backed by Alibaba Group Holding Ltd., Tencent Holdings Ltd. and 5Y Capital. Bank of America Corp. serves as overall coordinator alongside China International Capital Corp., Deutsche Bank AG and Goldman Sachs Group Inc. The IPO timeline and valuation may be affected by heightened regulatory scrutiny after Chinese authorities opened a data-security probe into DeepSeek and Moonshot. Deliberations remain ongoing, and Moonshot representatives did not respond to requests for comment.