The Chinese startup Moonshot AI, creator of the open-source Kimi K3 language model, filed a confidential application to list on the Hong Kong Stock Exchange, with the goal of completing the IPO in the first quarter of 2027. The operation is subject to regulatory approvals and market conditions, according to sources cited by the South China Morning Post. Before going public, the company plans to conduct a new funding round with a valuation that could reach 50 billion dollars, equivalent to 43 billion euros.
Moonshot AI gained international attention in July when it announced the launch of Kimi K3, an AI model that, according to the company, outperforms the models from OpenAI and Anthropic. The model stands out for being open-source and having a significantly lower cost, being 50% cheaper than OpenAI 5.6 Sol and 70% more economical than Anthropic's Claude Fable 5. Demand was so high that the company had to suspend new subscriptions due to the exhaustion of its computational capacity.
Financially, Moonshot AI expects to reach 1 billion dollars in annual recurring revenue by the end of the year, representing double the previous estimate of 500 million dollars the company had in mid-2026.
