Alibaba-backed startup Moonshot AI's valuation is up $500 million, sources say, after its rivals IPO in Hong Kong
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Alibaba-backed startup Moonshot AI's valuation has risen to $4.8 billion, up from $4.3 billion, as it prepares to close a new funding round. This increase follows the successful IPOs of rival Chinese AI companies Zhipu and MiniMax in Hong Kong. The funding round is expected to close soon due to high demand, with potential for even higher valuations in future rounds. Moonshot AI, known for its Kimi chatbot, has not announced any IPO plans yet.
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