Beijing-based Moonshot AI has raised $500 million in a Series C funding round, strengthening its position as one of China’s leading artificial intelligence companies. The round was led by IDG Capital, with participation from existing backers Alibaba Group Holding and Tencent Holdings, according to reports. The financing values Moonshot AI at $4.3 billion and lifts its cash reserves to more than 10 billion yuan.
Founded by Yang Zhilin, Moonshot AI develops the Kimi family of large language models, including the Kimi K2 Thinking model, which has posted strong benchmark performance and driven rapid growth in overseas API revenue and paying users. The company is not pursuing an IPO in the near term, focusing instead on scaling AI research and global adoption.
