大模型独角兽Minimax、智谱AI计划近期港股IPO

Group 1 - The AI unicorn companies Minimax and Zhipu AI are preparing for an IPO in Hong Kong, with Minimax reportedly close to completing its preparations and aiming for a potential launch in January 2026, seeking to raise several hundred million dollars [2] - Minimax has completed five rounds of financing since its establishment in December 2021, with a valuation of approximately 30 billion yuan after its latest funding round in July 2025, which raised about 300 million dollars [2] - Zhipu AI, founded in 2019, has completed 18 rounds of financing and reached a valuation of 20 billion yuan by July 2024, with plans for an A-share IPO process initiated in April 2023 [3][4] Group 2 - Zhipu AI's CEO revealed that the company's software tools and model business have generated an annual recurring revenue (ARR) exceeding 100 million yuan (approximately 14 million dollars), with expectations of over 100% revenue growth by 2025 [4] - Despite Zhipu AI's financial situation meeting the requirements for the Sci-Tech Innovation Board, uncertainties remain regarding its successful IPO [3][5] - The AI startup sector is currently characterized by "high valuations and high losses," making the pursuit of IPO opportunities increasingly critical as the market for AI-related companies becomes more competitive [5] Group 3 - The Hong Kong IPO market has seen a surge, with total fundraising reaching 35 billion dollars in 2025, the highest in nearly four years, driven by new listing rules that favor technology companies [5][6] - The Hong Kong Stock Exchange has processed 319 new stock listing applications across various cutting-edge sectors, including AI, biotechnology, and robotics, indicating a robust market environment [5]