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BTCC / BTCC Square / Global Cryptocurrency /
Chinese AI Startups MiniMax and Zhipu Target Hong Kong IPOs by Early 2026

Chinese AI Startups MiniMax and Zhipu Target Hong Kong IPOs by Early 2026

Author:
Global Cryptocurrency
Published:
2025-12-11 19:59:02
11
1
BTCCSquare news:

MiniMax and Zhipu, two prominent Chinese artificial intelligence startups backed by Alibaba and Tencent, are accelerating plans for initial public offerings on the Hong Kong Stock Exchange. The companies aim to complete listings as early as January 2026, pending regulatory approvals.

MiniMax, founded in 2021 by former SenseTime employees, has raised $850 million at a $2.5 billion valuation, including a $600 million Alibaba-led round in March 2024. Zhipu, a Tsinghua University spinoff established in 2019, secured $140 million from Shanghai state funds. Both firms must clear reviews by the China Securities Regulatory Commission, which evaluates compliance with national industrial policies.

The IPOs represent a significant milestone for China's AI sector, showcasing the rapid growth of homegrown technology firms with heavyweight financial backing. Deal specifics remain fluid as the companies navigate the complex regulatory landscape for public listings.

|Square

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