Moonshot said to eye Hong Kong IPO in early 2027 after value hits US$50 billion

Moonshot AI, a leading player in China's artificial intelligence landscape, is set to make its highly anticipated debut on the Hong Kong Stock Exchange in the first quarter of 2027. The company has recently closed its final round of private fundraising at a valuation of approximately US$50 billion, signaling substantial investor confidence.

According to sources familiar with the matter, Moonshot is actively preparing for its IPO, with early engagement meetings potentially beginning as early as October. The planned IPO, one of the most anticipated deals in Hong Kong's fundraising landscape, could potentially raise up to US$5 billion. The company's valuation has steadily increased through various rounds, reaching US$50 billion after a previous private round valued it at US$31.5 billion last summer.

Moonshot's annual recurring revenue is projected to reach US$2 billion by December, up from US$1 billion at the moment. The company, founded in 2023 by Yang Zhilin, has attracted notable backers like Alibaba Group Holding, Tencent Holdings, and 5Y Capital. Moonshot's IPO is poised to set a benchmark in the industry as numerous Chinese AI firms are witnessing record-breaking fundraising activities.

However, the IPO timeline and valuation may be influenced by stricter oversight of China's AI sector following a data-security probe into DeepSeek and Moonshot, according to reports. Moonshot's representatives have not yet responded to requests for comment.