Reports indicate that the Dark Side of the Moon is evaluating an IPO in Hong Kong

GateUser-bd883c58 · 2026-04-08T15:38:52+00:00

The Dark Side of the Moon is evaluating the possibility of going public in Hong Kong and has completed over $700 million in funding, with a potential valuation reaching $18 billion. The company was founded by former Tsinghua professor Yang Zhilin and has recently made significant technological advancements, especially with the release of the AI model K2.5.

GateUser-bd883c58

2026-04-08 15:38:52

Abstract generation in progress

Ask AI: How does Yang Zhilin’s Tsinghua background influence the development of Moonshot’s technology?

On March 26, DoNews reported that, according to Bloomberg, Moonshot is evaluating the possibility of pushing for an initial public offering in Hong Kong to capitalize on market enthusiasm for investments in artificial intelligence. The discussions are still at an early stage, and the timing of the listing has not yet been determined.

Insiders said that Moonshot has already reached out to CICC and Goldman Sachs to discuss potential IPO arrangements.

At present, a number of Chinese AI and robotics companies, including DeepSeek, Unitree Technology, and Moonshot, are widely viewed as being among the domestic leaders. Meanwhile, Zhipu and MiniMax have seen their valuations rise rapidly since listing in Hong Kong in January; both are currently around $40 billion (IT Home note: at the current exchange rate, approximately RMB 276.21B).

Moonshot’s internal assessment is still ongoing, and it may not ultimately move forward with an IPO. Both Moonshot and Goldman Sachs declined to comment, and CICC did not respond to the requests.

On the financing front, Moonshot is also simultaneously advancing its private-market fundraising plans. Insiders said that after completing more than $700 million (at the current exchange rate, approximately RMB 4.83B) in fundraising earlier this year, the company is now discussing a new round of fundraising of up to $1 billion (at the current exchange rate, approximately RMB 6.91B). Previously, it was reported that if this round of fundraising is completed, the company’s valuation would reach roughly $18 billion (at the current exchange rate, approximately RMB 124.3B).

Moonshot was founded by Yang Zhilin, a former professor at Tsinghua University. Investors include Alibaba, Tencent, and Five-Year Capital. In January this year, the company released an upgraded version of its Kimi model, K2.5, which can process text, images, and video in a single prompt and is applied to its AI agent product Kimi Claw.

View Original

This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.