Moonshot AI hits $50b valuation as it closes pre IPO round and targets Hong Kong listing

On October 6, 2026, multiple outlets reported that Chinese AI startup Moonshot AI has completed its final private funding round at a valuation of about 50 billion dollars and is preparing a Hong Kong IPO in early 2027 that could raise up to 5 billion dollars. The same reports say rival DeepSeek is close to securing between 80 and 100 billion yuan in new funding led by Tencent and CATL.