BofA drops out of talks to arrange Moonshot AI's Hong Kong listing: report

What happened: Bank of America is no longer part of the potential roster of banks working on Moonshot AI's initial public offering, Bloomberg reported. BofA had discussed a role as an overall coordinator for the Hong Kong listing, but the talks did not lead to a formal mandate. Key numbers: Moonshot AI was founded in 2023. It launched Kimi K3 in July. Why it matters: The report says Moonshot AI faces scrutiny in the US as it pursues a Hong Kong listing. Moonshot is backed by Alibaba and Tencent, and its Kimi K3 model competes with platforms from OpenAI and Anthropic on some metrics. Market: +0.3% today ($111.19), -27.9% YTD, 1.0x vol — as of 22:46 UTC Coverage: 3 outlets in 24h

Bank of America is no longer part of the potential roster of banks working on Moonshot AI's initial public offering, Bloomberg reported. BofA had discussed a role as an overall coordinator for the Hong Kong listing, but the talks did not lead to a formal mandate.

The report says Moonshot AI faces scrutiny in the US as it pursues a Hong Kong listing. Moonshot is backed by Alibaba and Tencent, and its Kimi K3 model competes with platforms from OpenAI and Anthropic on some metrics. Market: +0.3% today ($111.19), -27.9% YTD, 1.0x vol — as of 22:46 UTC