China's top AI startups race to IPOs by 2027
China's top AI startups are in a fundraising sprint, aiming to go public in Shanghai or Hong Kong by 2027.
With the cost of building AI and hiring talent rising, and possible US limits on NVIDIA chips, companies like Moonshot AI and DeepSeek are leading the pack, hoping for huge valuations ($30 billion and $70 billion).
Tech giants ByteDance and Tencent are also joining in, raising billions through bonds.
China eases unprofitable AI listings
The Chinese government is making it easier for even unprofitable AI startups to list on Shanghai's Nasdaq-style market.
State-backed banks are promising long-term funding, while investor interest is booming: more than $10 billion was raised in Hong Kong just this year.
Memory-chip maker CXMT is upping its IPO target to more than $8 billion, with an eye-popping valuation of about $85 billion.