Bank of America exits Moonshot AI Hong Kong IPO underwriting negotiations

On Oct. 14, Bloomberg said that sources revealed that Bank of America Corp. has ceased acting as a potential underwriter for the initial public offering (IPO) of Chinese artificial intelligence startup Moonshot AI.

Previously, Bank of America had entered into discussions regarding its role as overall coordinator for the Hong Kong IPO, but the negotiations ultimately failed to result in a formal mandate appointment. This development comes as the Chinese AI company faces strict scrutiny in the United States.