On 5 August 2024, Bloomberg reported that Moonshot AI raised US$ 300m from Tencent, valuing the company at US$ 3.3 billion. (Tencent and Moonshot AI have not confirmed that yet.)

This came after Alibaba’s disclosure on 23 May 2024, that Alibaba has invested US$ 800m for 36% equity interest in Moonshot AI. That implies valuation US$ 2.2bn.

These are all great news for China Merchants China Direct Investments Limited (CMCDI, 133 HK). 

In December 2023, CMCDI invested US$ 10 million (series A) in Moonshot AI for a 1.29% equity interest. That means CMCDI’s investment was done at a post-money valuation of approximately US$ 775 million. If Bloomberg is right, Tencent’s investment was at 4.25x that.

As at 30 June 2024, CMCDI was marking the Moonshot AI position at $21 million, or 2.1x its cost. That accounts for 2.73 % of CMCDI’s total assets.

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2024年8月5日,彭博社报道称,腾讯向月之暗面注资3亿美元,隐含公司估值为33亿美元。(腾讯和月之暗面尚未确认此事。)

此前阿里巴巴于2024年5月23日披露投资了8亿美元以获得月之暗面36%的股权,这意味着隐含公司估值为22亿美元。

这对于招商局中国基金(中国基金,133 HK)来说,是极好的消息。

2023年12月,中国基金以1,000万美元(A轮)的价格投资了月之暗面,获得了1.29%的股权。这意味着中国基金的投后估值为约7.75亿美元。如果彭博社的报道属实,腾讯的投资额是其4.25倍。

截至2024年6月30日,中国基金将月之暗面的持仓估值为2,100万美元,约为其成本的2.1倍,占中国基金总资产的2.73%。

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💬 微信: ASM_Argyle

💬 WhatsApp: +852 6317 6371

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Published on Bloomberg on 5 August 2024

Tencent Joins $300 Million Financing for China’s AI Unicorn

Tencent Holdings Ltd. has contributed to a $300-plus million round Chinese generative AI startup Moonshot just closed, emulating its arch-rival Alibaba Group Holding Ltd. in fostering several hopefuls in the highly contested sector.

The fundraising propelled Moonshot’s valuation to $3.3 billion and attracted other investors including Gaorong Capital and existing backer Alibaba, people familiar with the matter said, asking to not be identified discussing private information. The Information earlier reported that Moonshot was seeking investments at a pre-money valuation of $3 billion and had held talks with Tencent.

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