Moonshot AI reportedly closes $3.5 billion round at $35 billion valuation

Moonshot AI has reportedly closed a funding round that raised about $3.5 billion and valued the Beijing-based company at $35 billion. The round was roughly twice the upper end of the $1 billion to $2 billion target the company had initially set. The financing comes as Moonshot prepares for another private round that could value it at up to $50 billion before a potential Hong Kong listing.