Chinese AI unicorn MiniMax soars 109 percent in Hong Kong debut
Shares in Chinese AI startup MiniMax soared 109 percent as it went public in Hong Kong on Friday, raising US$619 million in a sign that strong investor demand is rewarding the country’s rapidly developing sector.
Rival firm Zhipu AI also saw gains, jumping 20.6 percent on its second trading day after its own US$558 million initial public offering.
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.
