Chinese AI developer Moonshot AI is reportedly seeking to raise between $1 billion and $2 billion, aiming for a valuation of up to $30 billion. This move comes as competition among China's leading artificial intelligence firms intensifies.

Moonshot AI, the developer of China’s popular Kimi chatbot, is seeking to raise between US$1 billion and US$2 billion in a new funding round that could value the company at as much as US$30 billion, according to a person familiar with the matter, as competition among the country’s leading artificial intelligence developers intensifies. The Beijing-based company was targeting a valuation roughly 50 per cent higher than the US$20 billion it achieved in its previous financing round, completed in...