BofA drops out of talks to arrange Moonshot AI's Hong Kong listing: report
J. Michael Jones
- Bank of America Corp. (BAC) is no longer part of the potential roster of banks working on Moonshot AI’s initial public offering, as the Chinese artificial intelligence darling faces scrutiny in the US, Bloomberg reported on Wednesday.
- BofA had been in discussions for a role as an overall coordinator for the IPO in Hong Kong, the report said.
- The talks didn’t lead to a formal mandate in the end.
- Founded in 2023 by Yang Zhilin, Moonshot is backed by Alibaba (BABA), Tencent (TCEHY), and 5Y Capital. The Beijing-based company gained international attention in July with the launch of Kimi K3, an open model that competes with leading AI platforms from OpenAI (OPENAI) and Anthropic (ANTHRO) on some metrics.
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