Alibaba-Backed Moonshot AI Valuation Reaches $4.8 Billion

Alibaba-backed Moonshot AI is being valued at $4.8 billion in a new funding round, according to two people familiar with the matter, marking a $500 million increase from its December valuation (19/01).

The sources said the round is close to completion due to strong investor demand.

Both sources asked to remain anonymous because the information is private.

Moonshot AI did not respond to a request for comment as the article was published.

Funding Increase Follows Rival Chinese AI IPOs

Investor interest in Moonshot AI has grown after rival Chinese AI companies Zhipu and MiniMax went public in Hong Kong earlier this year.

Both firms saw their valuations surge following their listings.

The sources said Moonshot’s valuation could rise further in later rounds because of increased interest in Chinese AI IPO candidates.

No timeline for additional funding rounds was disclosed.

Moonshot AI and the Kimi Chatbot

Moonshot AI is the developer of the Kimi chatbot, which gained popularity in China months before the release of DeepSeek last year.

The chatbot helped establish the company’s presence in the domestic AI market.

Chinese AI firms have seen growth as U.S.-based AI chatbots, including OpenAI’s ChatGPT, are not officially available in mainland China.

China restricts access to many U.S. internet services.

Previous Funding and Market Context

Moonshot AI’s previous funding round was announced on December 31, with IDG, Alibaba, and Tencent participating, according to Chinese financial media outlet LatePost.

The company has not commented on any plans for an initial public offering.

Zhipu, listed as Knowledge Atlas, had a market value of $13 billion as of Monday’s close, while MiniMax was valued at $15.2 billion, according to Wind Information data.

U.S. companies have also faced increasing restrictions from the White House on doing business with China.

PHOTO: CGTN/VCG

This article was created with AI assistance.

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