Chinese AI startup Moonshot is aiming for a $10 billion valuation as it expands a funding round already backed by Alibaba Group Holding Ltd. and Tencent Holdings Ltd., capitalising on strong investor appetite for homegrown AI challengers to Silicon Valley’s giants. The Beijing-based company, which developed the popular Kimi chatbot, began discussions in late January to raise additional capital after securing $500 million at a $4.3 billion valuation just weeks earlier, according to people familiar with the matter, said a Bloomberg report.