The First of China's 'AI Tigers' Goes Public as Zhipu Climbs in Hong Kong Debut

China's 'AI Tiger' Makes History in Hong Kong Debut

China-backed Zhipu, one of the country's first 'AI tigers,' made its initial public offering (IPO) in Hong Kong, raising $558 million. The company's shares saw small gains on their debut, marking a significant milestone in China's AI sector.

Background

China has been investing heavily in AI research and development, with the goal of becoming a global leader in the field. The country's 'AI tigers' are a group of companies that have received significant funding and support from the government to develop and commercialize AI technologies.

Zhipu's IPO

Zhipu's IPO was highly anticipated, with many investors and analysts watching closely to see how the company would perform on its debut. The company's shares were priced at $10, and they saw small gains of around 2% on their first day of trading.

Impact

The success of Zhipu's IPO is seen as a positive sign for China's AI sector, which has been growing rapidly in recent years. The company's funding will be used to further develop its AI technologies and expand its operations.

Quotes

• 'We are thrilled to have completed our IPO and are excited to start this new chapter in our company's history,' said Zhipu's CEO in a statement.

Context

China's AI sector has been growing rapidly in recent years, with many companies receiving significant funding and support from the government. The country's 'AI tigers' are seen as key players in this sector, and their success will be closely watched by investors and analysts.

Sources

[1] The first of China’s 'AI tigers' goes public as Zhipu climbs in Hong Kong debut