Beijing‑based Moonshot AI raised roughly $2 billion in a financing round led by Meituan’s Long‑Z Investment, pushing its valuation to $20 billion. The round also included Tsinghua Capital, China Mobile and CPE Yuanfeng. Founded in 2023 by former Meta and Google Brain researcher Yang Zhilin, the lab’s open‑weight Kimi models have quickly become some of China’s most used large‑language models, driving annual recurring revenue past $200 million. The new capital arrives as global demand for Chinese open‑source AI surges, positioning Moonshot alongside rivals such as DeepSeek, Zhipu AI and MiniMax. Read more →

Beijing‑based Moonshot AI closed a $2 billion financing round led by Meituan’s Dragon Ball arm, with China Mobile, CITIC Private Equity and other investors participating. The deal values the Kimi chatbot maker at over $20 billion—roughly seven times its December 2024 valuation. Founded in 2023 by three Tsinghua alumni, Moonshot has seen its consumer‑facing Kimi product double annual recurring revenue to more than $200 million in two months. The funding surge places the firm among China’s most heavily backed AI labs and fuels speculation about a near‑term public listing. Read more →