Kimi raises $500 million in Series C, founder says cash exceeds 10 billion yuan

Moonshot AI, the company behind Kimi, has completed a $500 million Series C financing round.

IDG led the round, with Alibaba, Tencent and existing shareholder Wang Huiwen among the participants. The post-money valuation is approximately $4.3 billion.

The company’s cash reserve exceeds 10 billion yuan, and an initial public offering is not a near-term priority.