Kimi K3 boom puts Moonshot AI on track for $50 billion IPO: Report

China‘s Moonshot AI is preparing for something that could be one of the biggest artificial intelligence public listings this year, with the company reportedly planning to raise fresh capital at a valuation of as much as $50 billion ahead of a Hong Kong initial public offering (IPO), Bloomberg reported.

The planned fundraising comes just days after the company’s flagship AI model, Kimi K3, went viral, attracting so much interest that Moonshot had to temporarily stop accepting new subscribers because its computing infrastructure could not keep up with demand.