Moonshot AI Raises $2B at $20B Valuation in Meituan-Led Round

Moonshot AI

Industry media only 4 src. ~1 min

Moonshot AI (maker of the Kimi model series) closed a $2 billion funding round at a $20B+ valuation on May 7, led by Meituan's Long-Z Investment, with China Mobile, CPE Yuanfeng, and Tsinghua Capital. The raise brings total capital raised in six months to $3.9B, quadrupling from a $4.3B late-2025 valuation. Annualized revenue topped $200M ahead of close; Kimi K2.6 is currently the second-most used LLM on OpenRouter.

Why it matters

The largest single funding round for a Chinese AI lab in 2026, pushing Moonshot to the highest valuation of any Chinese AI startup. Kimi K2.6's strong OpenRouter ranking demonstrates competitive open-weight performance against Western frontier models.

Importance: 4/5

Largest Chinese AI lab funding round of 2026 — $2B at $20B valuation, 4× valuation jump in six months, confirmed by Bloomberg, TechCrunch, SiliconAngle, and TechNode.

moonshot-ai kimi funding china valuation open-source

Sources

media Kimi Chatbot Maker Moonshot AI Valued at $20 Billion in Meituan-Led Round — Bloomberg

media China's Moonshot AI raises $2B at $20B valuation — TechCrunch

media Open-source AI developer Moonshot AI raises $2B at $20B+ valuation — SiliconAngle

media Kimi reportedly nears $2 billion funding round at over $20 billion valuation — TechNode