Alibaba-backed artificial intelligence startup Moonshot AI is being valued at $4.8 billion in a new funding round, up by about $500 million from its valuation last month, according to two people familiar with the matter.
The company, which develops the Kimi chatbot, was valued at around $4.3 billion in a funding round completed in December. Sources said the latest round is close to being finalised, driven by strong investor demand.
Interest in Moonshot AI has increased following the recent stock market listings of rival Chinese AI firms Zhipu and MiniMax in Hong Kong. Both companies have seen strong gains since going public, boosting confidence in China’s AI sector.
Moonshot AI’s Kimi chatbot gained popularity in China ahead of several competing releases last year, benefiting from the limited availability of U.S.-based AI services in the mainland market.
The company has not publicly commented on the new valuation or any potential plans to list its shares. Its previous funding round included participation from Alibaba Group, Tencent and IDG, according to Chinese media reports.
Analysts say rising interest in Chinese AI firms reflects growing investor focus on domestic technology champions as Beijing continues to promote artificial intelligence as a strategic priority.
