Moonshot AI raises $3.5 billion at a $35 billion valuation after Kimi K3 launch
智东西 · wechat · 2026-07-29
Moonshot AI has reportedly raised $3.5 billion at a $35 billion post-money valuation, far above the original target of $1–2 billion.
According to the report, the company is already sounding out investors for a pre-IPO round at a $50 billion pre-money valuation, with a Hong Kong listing still the goal for later this year. The latest round comes after a May financing led by Meituan and a June round backed by local state-linked investors and IDG Capital.
The fundraising wave is tied to the launch of Kimi K3, Moonshot’s new flagship model:
- 2.8 trillion total parameters
- native vision support
- 1 million-token context window
- a new KDA attention mechanism and StableLatentMoE design
- full weights and technical report opened on July 27
The model’s popularity also forced the company to pause new consumer subscriptions and redirect capacity to existing users because request volume quickly exceeded cluster limits.
Related event: Moonshot AI Raises $3.5B at $35B Valuation, Pre-IPO Round Underway(6 posts)→
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