The Globe and Mail reports in its Tuesday edition that Chinese start-up Moonshot AI has paused new subscriptions for its Kimi K3 model due to high demand, as prepares for a potential Hong Kong listing. A Reuters dispatch to The Globe reports that sources say Moonshot is in the process of unwinding its current offshore structure ahead of a Hong Kong initial public offering. On source says Moonshot has engaged financial advisers including Goldman Sachs and China International Capital Corp. (CICC) to discuss the IPO plan, although the timetable remains fluid. Founded in 2023 by Yang Zhilin, Moonshot is one of China's most closely watched AI start-ups. It raised more than $2-billion in May from investors including Meituan, China Mobile and CPE, bringing the company's total historical fundraising to more than $5.5-billion (all figures U.S.). It has since begun seeking up to $2-billion in fresh capital, with its valuation reaching $30-billion in June. Strong demand for increasingly powerful models is boosting investor interest in China's leading AI start-ups, but it is also raising the need for costly computing infrastructure. Moonshot says Kimi K3 performed competitively with leading U.S. models in some technical tasks.