Alibaba to plan IPO for AI chipmaking unit T-Head: Report

China’s ‍Alibaba is preparing ​to list its chipmaking arm, T-Head, ⁠Bloomberg News reported on Thursday, citing people familiar with the matter.

Alibaba’s US-listed shares rose 4.6% ‌premarket after ‌the report. As a first step, Alibaba plans to restructure ‌the unit as a business partly owned by employees before exploring an initial public offering, though the timing remains unclear, the report said.

Reuters could not immediately verify the report. Alibaba did not immediately respond ‌to a ‍request for comment.