Kimi Parent Moonshot AI Files Confidential IPO Application in Hong Kong

TREE NEWS update: Kimi’s parent company Moonshot AI has filed a confidential A1 application with the Hong Kong Stock Exchange to initiate its IPO process. The company is also advancing a new funding round at a pre-money valuation of about $50 billion, expected to be the last before the IPO. Kimi’s ARR surpassed $100 million in early March and reached around $300 million by mid-June, with enterprise ARR growing several-fold after the K3 release. The valuation has risen from about $4.3 billion at end-2025 to the current $50 billion through multiple rounds.