Beijing based artificial intelligence startup Moonshot AI is considering listing its shares in both Hong Kong and Shanghai as it seeks to raise more funds and expand its investor base, according to the South China Morning Post.
The company, which develops the Kimi large language model, has discussed a potential Hong Kong initial public offering with financial backers and is also considering a later listing on the Shanghai Stock Exchange’s STAR Market.
The possible Shanghai listing comes as Hong Kong’s AI stocks face weaker performance and the city’s IPO pipeline becomes increasingly crowded. Moonshot is expected to begin discussions with the Shanghai exchange if it moves ahead with the plan.
Reuters reported last week that Moonshot had confidentially filed for a Hong Kong IPO and could seek to raise about $3 billion.
Moonshot launched its latest Kimi K3 model in July, attracting strong demand. The company is also reportedly in talks with Microsoft, Amazon and Google over revenue sharing agreements that would allow the US cloud companies to host its AI model.
A dual listing would place Moonshot among a growing group of Chinese and global AI companies turning to public markets to fund expansion.
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