Moonshot AI plans to list on the Hong Kong Stock Exchange within six months, people familiar with the matter said. The Beijing-based startup behind the Kimi chatbot has published a shareholder proposal to get investors’ approval for an offering.
The write-up follows a difficult week for Moonshot, whose new model Kimi K3 has taken the world market by storm. Investors are now looking to see if the company can turn this into a success.
Kimi K3 AI Model Shakes Up Global Markets
Moonshot released the Kimi K3 on July 16, a lightweight transparent model built on approximately 2.8 trillion units. The architecture uses a mixed-use architecture (MoE), which divides tasks into specialized sub-networks.
The one-million-equivalent window helped it compare to several US models on benchmarks.
The launch sparked what traders call innovation Time for DeepSeek. Taiwan’s benchmark index fell more than 6%, and Japan’s stock fell 4%. The Nasdaq fell 1.5% in its worst session of the week, according to Chance.
As a result, Hong Kong-listed Z.ai lost nearly 30% of its value. This was the lowest in one day since he posted in January. Shares of MiniMax Group fell 16%, and Alibaba fell 4%, Bloomberg report.
AI Funds Around $30 Billion
Moonshot is immediately completing a round that could cost the company more than $30 billion, sources told Bloomberg. The figure represents a nearly seven-fold jump from the $4.3 billion it did in December, according to Price MLQ Story.
Likewise, annual recurring revenue for startups doubled to $200 million by April. This is up from about $100 million in early March.
The rapid growth has fueled investor interest even as Beijing restricts China’s AI companies to take foreign currency without permission.
Renovation of Paves Method of Registration
To qualify for the Hong Kong listing, Moonshot is dropping its VIE offshore model. Chinese companies use this legal framework to channel foreign investment around the boundaries of ownership. The communication system will replace it, following instructions from China’s security authorities for connected devices on land.
Moonshot isn’t the only lab looking into public exposure. A competitor DeepSeek is considering an IPO after closing his first foreign investment tour.
Meanwhile, the market performance shows how AI topics are getting closer to threat weapons. This is similar to the June selloff it pulled Bitcoin to $62,000.
However, Wall Street remains divided on how to sell the competition. JPMorgan has recommended buying the dip in AI chip stocks, while Morgan Stanley favors hyperscalers instead.
If the Moonshot series continues on time, it will come at a time when Chinese manufacturers continue to benefit. This is already a difficult opinion about who is leading the global AI race.
A note Moonshot AI Prepares for Hong Kong IPO After Kimi K3 Model Debuts appeared for the first time BeInCrypto.
