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Moonshot AI Eyes $30 Billion Hong Kong IPO After Market Shock

The maker of Kimi K3, the model that rattled Asian markets and dented Nasdaq last week, is moving toward a Hong Kong listing. Its valuation has climbed nearly sevenfold in under two years, past $30 billion.

Moonshot AI

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China's Kimi K3 beats Claude and GPT, and AI chip stocks take a hit

Beijing's Moonshot AI released the 2.8-trillion-parameter Kimi K3, which topped Claude and GPT on a coding benchmark. Hours later, Asian chipmaker stocks slid and bitcoin dropped below $63,000.

Kimi K3