Moonshot AI (Kimi), a Chinese AI startup, has completed a $500 million Series C funding round led by IDG Capital, which invested $150 million. The round was oversubscribed by existing backers Alibaba, Tencent, and Meituan co-founder Wang Huiwen, valuing the company at $4.3 billion.
With cash reserves now exceeding 10 billion RMB (approx. $1.37 billion), sources indicate the company faces no immediate IPO pressure. CEO Yang Zhilin stated the capital will fund GPU infrastructure expansion to accelerate training for the upcoming K3 model, aiming to match global frontier capabilities by 2026.
Commercially, Moonshot reported a 170% monthly growth rate in global paid users, with API revenue quadrupling since November. [LatePost, in Chinese]
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