Moonshot AI, the Alibaba-backed developer of the Kimi chatbot, is closing a new funding round that values the company at approximately $4.8 billion, according to people familiar with the transaction. The valuation marks an increase of at least $500 million from the company’s $4.3 billion valuation in December, reflecting strong investor demand for leading Chinese artificial intelligence firms.
Moonshot AI gained prominence in China after its Kimi chatbot surged in popularity months ahead of the release of rival products last year. The latest round follows a period of heightened activity in China’s AI sector, including public listings in Hong Kong by competitors Zhipu and MiniMax. The previous Moonshot funding round included participation from Alibaba, Tencent, and IDG.
