DeepSeek and Moonshot Raise Billions Ahead of IPOs as the US-China AI Race Heats Up

Artificial intelligence companies keep chasing multibillion-dollar funding rounds and stock listings as investors pour money into the race to build more powerful models. China’s DeepSeek is close to securing at least $12 billion, backed by Tencent and battery maker CATL, ahead of a planned IPO in early 2027. Strong demand could lift the raise to around $15 billion, above its first target. The financing follows the release of the V4 Flash model, which improved DeepSeek’s standing against OpenAI and Anthropic on cost and performance.

Moonshot AI Targets a Hong Kong IPO

Moonshot AI, the company behind the Kimi chatbot, has closed its final private round at a $50 billion valuation. It is aiming for a Hong Kong listing in the first quarter of 2027 that could raise up to $5 billion. Annual recurring revenue is expected to reach $2 billion by December, double the current level.

OpenAI and Anthropic Funding and IPO Plans

OpenAI plans to raise at least $30 billion at a $1.4 trillion pre-money valuation, a move reported last week after its IPO was delayed. Potential backers include BlackRock and UAE funds, which could together put in up to $10 billion. Anthropic is eyeing an IPO in November, after the US midterm elections, at a valuation of around $2 trillion.