Alibaba-backed startup Moonshot AI’s valuation is up $500 million, sources say, after its rivals IPO in Hong Kong

Alibaba-backed startup Moonshot AI’s valuation is up 0 million, sources say, after its rivals IPO in Hong Kong

Key Points

Investors are now valuing Alibaba-backed Moonshot AI at $4.8 billion, two people familiar with the matter told CNBC.
It’s a $500 million increase in the valuation the startup achieved last month.
The investor interest comes after two rival Chinese AI companies — Zhipu and MiniMax — surged after going public in Hong Kong earlier this year.

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