China's Moonshot AI raises $2B

Chinese AI startup Moonshot has secured $2 billion in funding, valuing the company at $20 billion. This significant investment underscores the booming demand for open-source artificial intelligence solutions globally. The company's annualized recurring revenue surpassed $200 million in April, a testament to its rapid expansion in paid subscriptions and API usage. This valuation and revenue growth position Moonshot as a major player in the competitive AI landscape, attracting substantial investor confidence.