Moonshot AI seeks $2 billion at $30 billion valuation to scale its AI models

Moonshot AI, the Chinese startup behind one of the country’s most closely watched artificial intelligence chatbots, is seeking as much as $2 billion in new funding at a valuation of $30 billion, according to Bloomberg. The talks mark the company’s third financing round in just six months, underscoring the pressure on China’s top AI developers to raise capital and keep pace in an increasingly crowded race.

The new round would be a major jump for Moonshot, one of a handful of Chinese startups trying to build large language models that can rival global leaders. Bloomberg reported that the company is aiming to use fresh capital to continue scaling its technology and maintain its position as competition intensifies among domestic AI rivals.