Source: Insider - The dark side of the Moon is considering a Hong Kong IPO and has been in talks with companies such as Goldman Sachs

BlockBeats News, March 26th, Bloomberg reported that the parent company of AI chat assistant Kimi, Moon's Dark Side, is in the preliminary stage of considering an initial public offering in Hong Kong, and has been in discussions with CICC and Goldman Sachs about the listing. The specific timing is yet to be determined, the planning is still ongoing, and the final decision may also be not to proceed. Both Moon's Dark Side and Goldman Sachs declined to comment, and CICC did not respond.

Moon's Dark Side, after completing a financing of over $700 million earlier this year, is discussing a new round of financing of up to $1 billion. After this round of funding, the valuation is expected to reach around $18 billion. At the end of last year, its Series C valuation was about $4.3 billion, which has since rapidly increased. Founder Yang Zhilin stated in an internal memo at the end of last year that the company has 10 billion RMB in cash and is "not in a hurry to go public in the short term." In December last year, there were rumors of a "backdoor listing," which were denied by the company.

Competitors in the same field, Zhiku and MiniMax (Rarath), have already been listed on the Hong Kong Stock Exchange. Taking advantage of the investor enthusiasm sparked by their peers' listings, Moon's Dark Side has been accelerating its fundraising in the private market.