Is Moonshot AI Cheap at $50 Billion? Depends Who You Compare It To

DeepSeek is set to close a funding round above 80 billion yuan ($11.9 billion) this month, according to Reuters, while rival Moonshot AI has filed confidentially for a Hong Kong IPO after a private round valued it at $50 billion, Bloomberg reported. Each lab reports roughly $1 billion in annualized revenue. Investors are paying 50