Moonshot AI Blows Past Its Funding Target Ahead of a Hong Kong IPO

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Moonshot AI has closed a $3.5 billion financing round that values the Beijing lab at $35 billion, well above the $1 billion to $2 billion it originally set out to raise, Bloomberg reported on July 29, 2026, citing people familiar with the private deal. The company is already approaching investors about a follow-on round at a $50 billion pre-money valuation, which would be its final private raise before a Hong Kong listing it wants to complete as soon as this year. The round is the same one that…