Kimi launches new funding round! Valuation soars to $4.8 billion

Lunar Dark Side launched a new round of financing just weeks after its previous round, with a pre-money valuation approaching $4.8 billion, a $500 million premium over the $4.3 billion valuation in the previous month. This round of financing saw a frenzy of institutional buying, primarily due to investors accelerating their investment in leading Chinese AI companies following the strong performance of Zhipu and MiniMax's Hong Kong IPOs. The company currently holds over 10 billion RMB in cash reserves, and founder Yang Zhilin stated that there is no rush for an IPO, with the focus on developing the next-generation K3 inference model and expanding computing power.