# Chinese artificial intelligence start-up Moonshot AI has raised about US$2 billion in a new funding round.

*business · news · 2026-05-07 · South China Morning Post*

## Key points

- Moonshot AI raised about US$2 billion, reaching a valuation above US$20 billion.
- The latest funding round was led by Meituan and China Mobile, per HF Capital.
- Moonshot AI's annual recurring revenue surpassed US$200 million in April 2024.
- Moonshot is considering unwinding its Cayman Islands structure to comply with new Beijing listing rules.
- Peer firms Zhipu AI and MiniMax have Hong Kong market caps significantly higher than Moonshot's current valuation.

**Companies:** Meituan, China Mobile, Moonshot AI
**Countries:** China, Cayman Islands, United States

[Read the full story on South China Morning Post](https://www.scmp.com/tech/article/3352751/kimi-developer-moonshot-ai-valued-us20b-it-navigates-chinas-new-ipo-rules)

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