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China’s Moonshot AI aims for US$50b round as year-end Hong Kong IPO targeted: sources

Chinese unicorn Moonshot AI has started and is expected to close its latest financing round by the end of this month, as it dismantles its offshore structure to pave the way for a potential Hong Kong initial public offering (IPO) as early as the end of the year, according to two sources familiar with the matter. The company was expected to raise capital at a valuation of up to US$50 billion in this latest round, one of the sources said. The South China Morning Post, citing sources, reported last