Moonshot (Kimi) has successfully closed a $500 million C-round funding on December 31, 2025, led by IDG Capital with a $150 million contribution. The funding round saw strong participation from existing investors, including Alibaba, Tencent, and Wang Huiwen, who collectively oversubscribed, elevating the company's valuation to $4.3 billion. Wang Huiwen has invested a total of $70 million in the company. Founder Yang Zhilin announced that Moonshot's cash reserves now exceed RMB 10 billion, aligning with industry peers like Zhipu and MiniMax. Despite the substantial funding and financial stability, on-chain reports indicate that an initial public offering (IPO) is not an immediate priority for the company.