Startups go public in litmus test for Chinese AI

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Leading Chinese artificial intelligence startup Zhipu AI soared as it went public in Hong Kong on Thursday, a day before rival MiniMax also makes its market debut in a litmus test for the country’s rapidly developing sector.

Shares in Zhipu AI, which runs the Z.ai tool, rose more than 12% on Thursday after its oversubscribed initial public offering raised HK$4.35 billion ($558 million).

This week’s flotations come before any IPO announcements from top US startups OpenAI, the maker of ChatGPT, and Anthropic, known for its Claude chatbot.

But analysts…



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Startups go public in litmus test for Chinese AI



Leading Chinese artificial intelligence startup Zhipu AI soared as it went public in Hong Kong on Thursday, a day before rival MiniMax also makes its market debut in a litmus test for the country’s rapidly developing sector.

Shares in Zhipu AI, which runs the Z.ai tool, rose more than 12% on Thursday after its oversubscribed initial public offering raised HK$4.35 billion ($558 million).

This week’s flotations come before any IPO announcements from top US startups OpenAI, the maker of ChatGPT, and Anthropic, known for its Claude chatbot.

But analysts…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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