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Story summary
- Moonshot AI, backed by Alibaba, is closing a funding round valuing it at $4.8 billion.
- It rose from $4.3 billion in December as Zhipu and MiniMax went public in Hong Kong.
- The Kimi chatbot gained popularity in China amid restrictions on U.S. AI services like ChatGPT.
- The round is expected to close soon due to high demand.
- Moonshot AI has no IPO plans.
