Chinese AI server leader xFusion hires investment bank in first step toward listing

SHANGHAI: China’s leading AI server provider xFusion has hired Citic ‍Securities in preparation for an initial public offering, regulatory disclosure showed, adding ⁠the Huawei spin-off to a list of tech firms tapping investor fervour for AI.

The Henan province-based company signed an agreement with Citic on Dec. 31 for ‌the IPO “tutoring” ‌process – essentially training its executives in the finer details of an IPO – from January to ‌April or May, showed a filing on the website of the China Securities Regulatory Commission (CSRC) on Wednesday.