Moonshot AI, an AI startup supported by Alibaba, recently completed a new round of financing with a valuation increase of $500 million compared to before. Insiders revealed that this valuation jump is closely related to intensified industry competition—its main competitor recently successfully listed in Hong Kong, triggering a reassessment of the AI track by the market. The startup's financing progress reflects the current hot trend in the AI field and investors' continued optimism about its long-term potential. Against the backdrop of rapid iteration of large models and AI applications, soaring valuations have become the norm in the industry.