Krux
February 25, 2026
Alibaba and Tencent Co-Lead Moonshot AI's $700M Round
Published: February 25, 2026 at 12:21 AM
Updated: February 25, 2026 at 12:21 AM
100-word summary
Moonshot AI, maker of the Kimi chatbot, has reportedly raised over $700 million in a new round co-led by Alibaba, Tencent, Wuyuan Capital, and Ji'an Investment. The deal comes just two months after a $500 million Series C in December 2025, and other outlets peg the startup's valuation between $10 billion and $12 billion. The strategic signal: international revenue has now surpassed domestic, driven by overseas subscribers and API growth. The back-to-back mega-rounds underscore Beijing's tech giants betting big on China's leading AI challenger going global.
What happened
Moonshot AI, maker of the Kimi chatbot, has reportedly raised over $700 million in a new round co-led by Alibaba, Tencent, Wuyuan Capital, and Ji'an Investment. The deal comes just two months after a $500 million Series C in December 2025, and other outlets peg the startup's valuation between $10 billion and $12 billion. The strategic signal: international revenue has now surpassed domestic, driven by overseas subscribers and API growth.
Why it matters
The back-to-back mega-rounds underscore Beijing's tech giants betting big on China's leading AI challenger going global.