Moonshot AI, the developer of the Kimi chatbot, is seeking to raise between $1 billion and $2 billion in a new funding round, according to the South China Morning Post. The company’s valuation could reach as much as $30 billion following this round, a rise from its previous valuation of $20 billion, as reported by Chinese sources. An earlier financing round valued Moonshot AI at approximately $10 billion, according to StartupFortune.com, while another report from the same outlet stated the company was valued at roughly $4.3 billion at the end of 2025. StartupFortune.com also reported that Moonshot AI raised about $2 billion in May at a valuation of more than $20 billion, with the round led by Long-Z Investments and Meituan’s venture arm. Competition among China’s leading artificial intelligence developers is intensifying, according to the South China Morning Post. Moonshot AI is being framed as one of the few Chinese AI labs capable of competing with OpenAI, Anthropic, and DeepSeek despite rising costs, and its valuation is being framed as a test of investor willingness to pay for China’s open-model AI competitors.