Insider: Moonshadow is considering a Hong Kong IPO

According to informed sources, Kimi developer Moonlight is in the early stages of considering an initial public offering (IPO) in Hong Kong, hoping to seize the opportunity presented by increasing investor interest in artificial intelligence (AI).

Sources say that the company has already held discussions with China International Capital Corporation (CICC) and Goldman Sachs regarding the potential IPO. They indicated that the specific timing of the IPO is still uncertain.

The sources noted that relevant matters are still ongoing, and it remains unclear whether the IPO will proceed. Representatives for Moonlight and Goldman Sachs declined to comment, and CICC did not respond to requests for comment.

Previously, Moonlight had been raising funds through private markets. Earlier this month, informed sources revealed that Moonlight is seeking to raise as much as $1 billion, which would value the startup at approximately $18 billion; while earlier this year, the company had already secured over $700 million in funding.

Moonlight was founded by former Tsinghua University professor Yang Zhilin, with supporters including Alibaba, Tencent Holdings, and Wuyuan Capital. The company released an upgraded version of its flagship product, the Kimi AI model K2.5, in January, which can process text, images, and video simultaneously with a single command and supports Kimi Claw (the Moonlight version of the AI agent OpenClaw).

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Editor: Liu Mingliang