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MiniMax once led Zhipu in Hong Kong’s AI stock race. How the tables have turned

When Chinese artificial intelligence developers Zhipu AI and MiniMax made their debuts on the Hong Kong stock exchange in January, investors initially saw one as a better bet than the other. Beijing-based Zhipu closed its first trading day on January 8 with a market capitalisation of HK$57.9 billion (US$7.4 billion). A day later, Shanghai-based MiniMax listed at HK$106.7 billion, almost twice as large.

South China Morning Post 1d ago

Moonshot AI eyes US$30 billion valuation as China’s AI race intensifies

Moonshot AI eyes US$30 billion valuation as China’s AI race intensifies The company behind the Kimi chatbot is aiming for a valuation that would place it among China’s most valuable AI start-ups Moonshot AI, the developer of China’s popular Kimi chatbot, is seeking to raise between US$1 billion and US$2 billion in a new funding round that could value the company at as much as US$30 billion, according to a person familiar with the matter, as competition among the country’s leading artificial...

South China Morning Post 2d ago

Hong Kong's IPO boom is developing a performance problem

BEIJING — Hong Kong may be the top market globally for initial public offerings, but it also suffers from a growing trend of weak stock performance from those debuts. The Hong Kong exchange was first in the world by IPO funds raised last year — besting the New York Stock Exchange and the Nasdaq, which came second and third respectively — according to KPMG, which noted that strong momentum in 2025 continued in the first quarter of this year. More than 600 companies are waiting to list on the...

CNBC 2d ago