Woofun AI reports that Moonshot AI has initiated shareholder resolutions for a potential Hong Kong IPO, with listing possible within six months. The company is completing a financing round valuing it at over $30 billion, while annualized recurring revenue rose to $300 million in June from $200 million in April.

Moonshot AI is dismantling its Variable Interest Entity structure and discussing underwriting with CICC and Goldman Sachs. The IPO preparation preceded the launch of Kimi K3, which features 2.8 trillion parameters and triggered declines in US chip and Hong Kong AI stocks.