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Moonshot AI CEO Yang Zhilin surprised some of his Carnegie Mellon professors by choosing to return to China. Now, his Beijing-based startup’s latest private funding round values it at $50 billion. 🔗

MOONSHOT AI TARGETS $2B ANNUALIZED REVENUE BY YEAR-END China’s Moonshot AI told investors its annual recurring revenue topped $1B in August, up from just $300M in June, with growth accelerating after the July launch of its Kimi K3 model. The company now expects its annualized sales rate to reach $2B by year-end as subscriptions, hosted models and enterprise adoption grow. Moonshot is also raising capital at a roughly $50B valuation ahead of a potential Hong Kong IPO as soon as this year. Kimi K3 has 2.8T parameters, while Moonshot is expanding into enterprise deployments and is in talks with Microsoft, Amazon and Google over potential cloud distribution and revenue-sharing agreements.