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Investing.com-- China’s Moonshot AI is nearing a dollar funding round that could increase the unicorn’s valuation to about $4 billion, the Wall Street Journal reported on Friday, citing people familiar with the matter.
The AI startup is in talks with global investors, including IDG Capital, for the funding, which could total several hundred million dollars, the WSJ report said.
Other potential investors also include internet giant Tencent Holdings Ltd (HK:0700), with Moonshot aiming to close the funding round by the year-end.
Moonshot, which leapt into the spotlight this year as among the leaders in China’s domestic AI developers, already has several high-profile investors, including tech giant Alibaba Group Holding Ltd (HK:9988).
The company had earlier this month released its latest open-source model, Kimi K2 Thinking, which it claims has advanced coding and reasoning capabilities.