TMTPOST — Moonshot AI, the developer of the Kimi large language models, has completed its final private financing round at a valuation of about $50 billion and is advancing plans for a Hong Kong initial public offering in the first quarter of 2027, according to people familiar with the matter cited by Bloomberg. The Beijing-based company has confidentially filed listing documents with the Hong Kong Stock Exchange. Banks involved in the process include Bank of America as overall coordinator, along with China International Capital Corp., Deutsche Bank and Goldman Sachs. Reports indicate the IPO could raise as much as $3 billion to $5 billion. Moonshot’s annual recurring revenue has risen sharply in recent months, supporting the higher valuation after successive funding rounds earlier in 2026. The company has not publicly confirmed the exact valuation or IPO timeline.