China's Two AI Leaders Near IPOs at $50B and 500B Yuan Valuations
Article excerpt
China's two leading artificial intelligence developers are approaching their stock market debuts. Moonshot AI wrapped up a funding round at a valuation of about $50 billion (67 trillion won), while DeepSeek was valued at 500 billion yuan (100 trillion won), securing what are expected to be their final rounds of private capital. Both companies plan to begin initial public offering procedures next year, a move expected to raise at least tens of trillions of won. The scale reflects a judgment that enormous capital is required to keep pace with the United States in the competition for AI supremacy. Moonshot AI completed its fundraising based on a valuation of roughly $50 billion, Bloomberg reported on the 6th. The company is pursuing a Hong Kong listing targeted for the first quarter of next year. A person familiar with the matter said Moonshot AI is now positioned to begin gauging investor demand through pre-marketing sessions as early as this month. The IPO is expected to raise up to $5 billion (6.7 trillion won). Moonshot AI's valuation has climbed steadily through successive funding rounds. In its previous round just before this summer, the company was valued at $31.5 billion (42 trillion won). Its annual recurring revenue, a gauge of future sales, is expected to rise from $1 billion currently to $2 billion by the end of the year. Moonshot AI drew global attention in July...
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DeepSeek secured at least 80 billion yuan (16 trillion won) in its latest funding round.
