AsianFin—Moonshot AI founder Yang Zhilin has reportedly cashed out millions of dollars by selling shares after the latest round of financing.

As a startup, Moonshot AI has only been in operation for a year. According to data from the Tianyancha App, Yang Zhilin holds a 78.968% stake in Beijing Moonshot AI Technology Co., Ltd., making him the largest shareholder.

Sources familiar with the matter revealed that the recent financing round of Moonshot AI involved some secondary share transactions, but major shareholders like Sequoia Capital did not sell their shares.

There are rumors that the founder and related parties have cashed out around $40 million, said another industry investor.