Leading Chinese AI startup Moonshot is reportedly exploring going public in Shanghai and Hong Kong, reflecting both the lab’s need for cash as well as concerns over a congested IPO pipeline in Hong Kong.
China’s AI startups raise far less than their US peers, with top Chinese firms often bringing in (mere) single- and double-digit billions of dollars, leading them to seek efficiencies and rely on less compute.
But more Chinese tech companies are going public: Zhipu and MiniMax listed in Hong Kong earlier this year. Beijing is concerned that the rush of tech IPOs is fueling a bonanza that could burn investors.
Regulators warned bankers this week not to flood the market with “low-quality” companies, the Financial Times reported.