China's Moonshot to launch IPO in 6 months as its AI sparks sell-off: Report

Chinese startup Moonshot AI is preparing for a Hong Kong IPO that could launch within six months, Bloomberg reported. The company aims to capitalise on strong investor interest after releasing its Kimi K3 AI model, which claims to deliver performance close to Anthropic's Fable. Notably, the debut of Kimi K3 triggered a sharp sell-off in global technology and semiconductor stocks.