Moonshot AI, the Beijing-based startup behind the Kimi chatbot, has raised approximately $3.5 billion in its latest funding round. The company’s largest single raise was a roughly $2 billion Series D completed in May 2026, led by Meituan’s venture capital arm, valuing Moonshot at $20 billion post-money. The valuation has grown from $300 million at its 2023 founding to $20 billion in just three years, with investors including Alibaba, Tencent, HongShan, IDG Capital, and Gaorong Capital. The company is reportedly preparing for a potential IPO in Hong Kong that could establish a public market benchmark for AI company valuations in Asia. Kimi K3, released on July 16, 2026, features a context window of up to one million tokens, allowing it to process the equivalent of several books worth of text in a single session.
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