独家｜上轮才过几周，Kimi开启新一轮融资！估值直冲48亿美元，机构正疯狂“抢配”月之暗面

Core Insights - The company "Yue Zhi An Mian," one of China's AI "six little dragons," is currently undergoing a new round of financing with a pre-money valuation nearing $4.8 billion, up from a post-money valuation of $4.3 billion just weeks prior, indicating a $500 million increase in valuation within a month due to market enthusiasm for domestic AI stocks [2] - Following the successful listings of competitors "Zhi Pu" and "MiniMax," investors are showing unprecedented interest in "Yue Zhi An Mian," with many institutions eager to secure allocations in what is perceived as a top-tier non-listed unicorn [2] - The company is not rushing towards an IPO, as it holds over 10 billion RMB in cash reserves, allowing it to maintain its strategic pace without the pressure of short-term financial reporting [3] Company Strategy - The founder, Yang Zhilin, emphasizes the importance of focusing on the development of the next-generation reasoning model (K3 series) and expanding the underlying computing power, rather than rushing to market [3] - The company aims to enhance "Token efficiency" as a core strategy, with two key technological innovations: the "Muon second-order optimizer," which doubles Token efficiency, and the "Kimi Linear architecture," which significantly improves processing speed for long-context tasks [3][4] Market Position - With ongoing restrictions on American AI services in China, domestic AI leaders are experiencing unprecedented "home court advantages," positioning "Yue Zhi An Mian" at the center of this opportunity [4] - The company has not yet commented on the specifics of its $4.8 billion valuation, but it remains a standout entity that has maintained its independent pace amidst market fluctuations [4]