Moonshot AI submitted a confidential A1 application for an initial public offering on the Hong Kong Stock Exchange this week. The startup develops the Kimi chatbot and declined to comment on the listing process.
The company is reportedly raising a final pre-IPO funding round at a $50 billion valuation. Its valuation previously reached $35 billion in July 2026. The firm was valued at $4.3 billion at the end of 2025.
Annual recurring revenue exceeded $300 million in mid-June 2026. This figure grew from $100 million reported in March 2026.