Moonshot AI valued at $50 bn, eyes Hong Kong IPO

Chinese AI firm Moonshot AI completed its final private funding round at ~$50 billion valuation and plans a Hong Kong IPO in Q1 next year, aiming to raise up to $5 billion. Its ARR is projected to double to $2 billion by December. Bank of America is the overall IPO coordinator. Alibaba and Tencent are among its backers.