Moonshot AI

Moonshot AI (月之暗面) has closed a pre-IPO private round that values it at about $50 billion (RMB 350 billion), up from $31.5 billion in the summer. It has filed confidentially for a Hong Kong listing planned for the first quarter of next year, aiming to raise up to $5 billion; Bank of America is the overall coordinator, with CICC, Deutsche Bank and Goldman Sachs as sponsor banks. Its backers include Alibaba, Tencent and 5Y Capital, and people familiar say annual recurring revenue is $1 billion, expected to reach $2 billion by December.

Baseten said on September 30 that enterprise users can call Kimi K3 inside OpenAI's Codex tool, with usage billed against existing OpenAI procurement commitments rather than requiring a new supplier. That makes it the first Chinese open-source model available through that enterprise billing channel. Moonshot AI previously brought Kimi K3 to Amazon Web Services' Amazon Bedrock under a revenue-sharing arrangement, which the company described as the first such model output deal with a major global cloud provider.