According to reports from LatePost, Moonshot AI, the parent company of the popular AI assistant Kimi and one of China's "AI Tiger Cub" startups, has this week submitted a confidential listing application to the Hong Kong Stock Exchange, marking the official start of its Hong Kong IPO process.

In response to the speculations, a representative from Kimi stated, "We do not comment on market rumors and currently have no information to disclose."

Reports also indicate that Moonshot AI is currently advancing a pre-IPO funding round at a pre-money valuation of $50 billion.

Citing sources close to the matter, IFR reported that Moonshot AI could potentially conduct its Hong Kong IPO in the fourth quarter of this year or the first quarter of next year.

Back in March, Bloomberg reported that Moonshot AI was in preliminary discussions regarding a Hong Kong listing and had been in talks with China International Capital Corporation and Goldman Sachs regarding potential IPO arrangements.