Moonshot AI (Kimi) is reportedly finalizing a new funding round with a pre-money valuation of $4.8 billion, according to a report from the *Star of the Sci-Tech Innovation Board*. This marks an increase from its previous valuation of $4.3 billion just weeks ago. The company has not yet commented on the ongoing financing, which is expected to conclude soon. Previously, Moonshot AI completed a $500 million Series C funding round before December 31, 2025, led by IDG with a $150 million investment. Major investors such as Alibaba, Tencent, and Wang Huiwen oversubscribed, resulting in a post-money valuation of $4.3 billion. Founder and CEO Yang Zhilin revealed that the company holds cash reserves exceeding 10 billion yuan, comparable to Zhipu AI and MiniMax post-IPO, indicating no immediate need for an IPO.