According to reports, Chinese AI startup MiniMax and Zhipu intend to go public in Hong Kong in January next year
According to sources cited by Bloomberg, two Chinese AI startups, MiniMax and Zhipu, which are seen as potential competitors to OpenAI, plan to go public in Hong Kong in the coming weeks.
It is reported that Shanghai-based MiniMax intends to conduct its IPO as early as January next year, having received support from companies such as Alibaba (09988.HK) and Tencent (00700.HK), with expectations to raise hundreds of millions of dollars. Similarly, Zhipu, which has also received support from Alibaba and Tencent, plans to go public around the same time.
Sources indicate that the specific details of the IPOs for both companies are still under discussion and will require approval from the China Securities Regulatory Commission
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