Alibaba-backed startup Moonshot AI's valuation is up $500 million, sources say, after its rivals IPO in Hong Kong [CNBC]
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Source: CNBC
It's a $500 million increase in the valuation the startup achieved last month. The investor interest comes after two rival Chinese AI companies — Zhipu and MiniMax — surged after going public in Hong Kong earlier this year. Pictured here is Moonshot AI's Kimi chatbot displayed on a smartphone. Bloomberg | Bloomberg | Getty Images BEIJING — An Alibaba -backed AI startup is currently being valued at $4.8 billion in a fresh funding round, two people with knowledge of the deal said, just weeks after it was valued at $4.3 billion. Moonshot AI is the company behind the Kimi chatbot , which surged in popularity in China months before DeepSeek's release last year. Since Moonshot's previous in December, rival Chinese AI companies — Zhipu and MiniMax — surged after going public in Hong Kong The 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
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