Tags: Funding Round

University of Michigan's $20 Million Bet on OpenAI Now Worth $2 Billion
University of Michigan's $20 Million Bet on OpenAI Now Worth $2 Billion The Next Web
The University of Michigan invested $20 million in OpenAI before ChatGPT existed, and court documents reveal the stake is now worth $2 billion. This hundred-to-one return on investment is a significant windfall for the university's endowment, which made the bet on the AI company when it was still a nonprofit research laboratory. Read more

Moonshot AI lands $2 billion round, pushes valuation past $20 billion
Moonshot AI lands $2 billion round, pushes valuation past $20 billion The Next Web
Beijing‑based Moonshot AI closed a $2 billion financing round led by Meituan’s Dragon Ball arm, with China Mobile, CITIC Private Equity and other investors participating. The deal values the Kimi chatbot maker at over $20 billion—roughly seven times its December 2024 valuation. Founded in 2023 by three Tsinghua alumni, Moonshot has seen its consumer‑facing Kimi product double annual recurring revenue to more than $200 million in two months. The funding surge places the firm among China’s most heavily backed AI labs and fuels speculation about a near‑term public listing. Read more