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Moonshot Valued at $50 Billion, Sprinting Toward a 2027 Hong Kong IPO

Bloomberg and other outlets reported on October 9 that Kimi parent Moonshot AI closed its final pre-IPO private round at a valuation of about $50 billion, targeting a Hong Kong listing in Q1 2027. DeepSeek, Anthropic, and OpenAI are also advancing listings or mega-rounds — the big four AI labs of China and the US are heading to public markets at the same time.

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FT: OpenAI's Annualized Revenue Revised Down $20B to Near $50B

The Financial Times reported on October 8 that OpenAI told investors its end-of-September annualized revenue was near $50 billion — about $20B below the $70B figure previously reported in media. Differences in accounting methodology are the main cause.