GigaAI seeks 2026 Hong Kong IPO amid Chinese AI listing wave

A cluster of China's most prominent artificial intelligence startups is accelerating plans for public listings, marking a new phase in the global AI arms race as companies seek billions in fresh capital to fund compute infrastructure and model development.

Moonshot AI Targets Hong Kong Within Six Months

Moonshot AI has told investors it is preparing to list in Hong Kong in as soon as six months, Bloomberg reported on July 18, after its Kimi K3 model rattled global technology markets by matching the capabilities of leading American AI systems. The Beijing-based startup has distributed a shareholder resolution seeking investor approval for the listing and is wrapping a fundraising round that may value the three-year-old company at more than $30 billion. Moonshot has held talks with China International Capital Corp. and Goldman Sachs The Goldman Sachs Group, Inc. ↘ 1.38% about working on the offering. The company's annual recurring revenue has reached $300 million, according to people familiar with the matter.businesstimes+4

DeepSeek Eyes Shanghai Listing at $71 Billion-Plus Valuation

DeepSeek, the Hangzhou-based developer behind the V3 and R1 large language models, is preparing for an IPO on Shanghai's STAR Market as early as the second quarter of 2027, The Wall Street Journal reported. The company is discussing a listing at a valuation of roughly $71 billion — a sharp increase from the $50 billion-plus valuation it achieved in its first outside funding round of approximately $7 billion just weeks earlier. Reuters reported that DeepSeek is planning a fresh fundraising round at a valuation of about 500 billion yuan ($74 billion) and looking to raise as much as 50 billion yuan, with an internal target to complete an IPO filing by the end of this year.wsj+2

GigaAI and a Broader Wave

GigaAI, also known as Jijia Vision, is in discussions to hold an IPO on the Hong Kong Stock Exchange as soon as this year, joining the rush of Chinese AI firms planning public market debuts. The "world model" startup is targeting a valuation of around $3 billion. Other firms are also advancing: Kai-Fu Lee's 01.AI is eyeing a Hong Kong IPO in 2027, adding to a pipeline that already saw Zhipu AI successfully list in Hong Kong earlier this year.finance.yahoo+3

The wave reflects both the maturation of China's AI sector and the intensifying capital demands of training frontier models. With Chinese open-source models increasingly challenging U.S. incumbents on global benchmarks, investors appear willing to back rapid public market timelines that would have been unthinkable a year ago.bloomberg+1