Yang Zhilin, the founder and CEO of Moonshot AI, shared an exciting update with all employees in an internal memo today: the company has successfully closed a Series C funding round, raising an impressive $500 million. With this influx of capital, Moonshot AI now holds cash reserves exceeding 10 billion yuan. The memo also highlighted some remarkable growth figures: Kimi's global base of paying users has surged by 170% month-over-month. Moreover, propelled by the power of the K2 Thinking large model, the company's overseas large model API revenue has seen a fourfold increase. According to reports, this latest funding round was spearheaded by IDG Capital, with existing investors like Alibaba and Tencent showing strong confidence by subscribing beyond their pro-rata shares. This strategic investment has propelled Moonshot AI's post-money valuation to an impressive $4.3 billion.