Chinese AI unicorn MiniMax soars 109% in Hong Kong debut
Shares in Chinese AI startup MiniMax soared 109% 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% 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.
