Moonshot AI, the developer behind China’s popular Kimi chatbot, is reportedly seeking as much as $2 billion in a new funding round that would value the Beijing-based startup at $30 billion, according to a report citing people familiar with the matter.

According to a Bloomberg News report published on June 8, 2026, the artificial intelligence company has initiated early-stage discussions with prospective investors to raise more than $1 billion. This marks the startup’s third financing effort in just six months, as competition intensifies in China’s AI sector.

The timing of these talks coincides with Moonshot’s near completion of a previous funding round led by Meituan, which valued the company at $20 billion post-investment. If the latest fundraising succeeds, Moonshot’s valuation would surge more than sevenfold from December 2025, when it was valued at just over $4 billion.

The rapid valuation increase positions Moonshot as one of China’s best-capitalized AI research laboratories. The latest round would push its valuation above publicly listed competitor Minimax Group, which held a market capitalization of approximately $20 billion as of early June. However, both companies still trail Zhipu AI, valued at roughly $80 billion, and DeepSeek, which is reportedly targeting a valuation of around $50 billion in its initial funding round.

Bloomberg’s sources indicated that the fundraising discussions remain at an early stage, and terms could still change. A Moonshot spokesperson did not respond to requests for comment.

The company’s financial performance has shown strong momentum, with annual recurring revenue surpassing $200 million in April 2026, driven by growing demand for its chatbot and large language models.

Moonshot is simultaneously restructuring its corporate organization by dismantling its offshore structure in preparation for a potential initial public offering in Hong Kong, following Beijing’s tightened regulations on overseas listings. The company plans to establish a joint venture structure that will maintain access to US dollar-denominated funding from foreign investors.

Founded by Yang Zhilin, a former Tsinghua University professor with prior experience at Meta Platforms Inc. (Meta) and Alphabet Inc.’s Google, Moonshot generates revenue through tiered subscription plans for its Kimi chatbot and enterprise licensing of its underlying technology. The company recently introduced Kimi Work, a general-purpose AI agent built on its latest K2.6 series models.

The aggressive fundraising pace reflects the capital-intensive nature of AI development and the intense competition among Chinese technology companies to establish leadership in artificial intelligence capabilities.

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