Alibaba-backed startup Moonshot AI's valuation is up $500 million, sources say, after its rivals IPO in Hong Kong [MSNBC.com]
TENCENT HLDGS UNSP/ADR (TCEHY)
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Source: MSNBC.com
BEIJING — AnAlibabaMoonshot is the company behind theKimi chatbotSince Moonshot's previous in December, rival Chinese companies —ZhipuMiniMaxgoing public in Hong KongThe sources told CNBC that Moonshot was closing a funding round that will value it at least $500 million higher than the December round. The sources said the round would likely close soon due to high demand.Both asked to remain anonymous while discussing private information. Moonshot had not responded to a request for comment as this article went live.The sources added that the company could be valued even higher in subsequent rounds that could follow, due to a surge of interest in Chinese IPO candidates.Chinese companies have particularly boomed as U.S. chatbots, such as Open's ChatGPT, aren't officially available in mainland China.Beijing restricts access to many U.S.-based internet services, while American companies have faced growing restrictions from the on doing business with China.The previous funding round
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