capital · May 17, 2026

Moonshot AI raised $2B at $20B valuation

Moonshot AI raised $2 billion in a round led by Long-Z Investments the venture arm of Meituan. The Beijing-based developer of the Kimi series of open-weight large language models reached a valuation over $20 billion up from $4.3 billion at the end of 2025. Moonshot AI raised $3.9 billion in the last six months and now leads Chinese LLM startups ahead of MiniMax and Zhipu AI on total funding. Kimi K2.5 performed nearly as well as OpenAI and Anthropic models in coding benchmarks while Kimi K2.6 became the second most-used LLM on OpenRouter.