Overview
- Both startups say they have secured approval from the China Securities Regulatory Commission to pursue Hong Kong listings, according to company statements.
- MiniMax is targeting an early 2026 debut on the Hong Kong Stock Exchange, and Zhipu also plans to complete its offering in 2026.
- Alibaba backs MiniMax, and Tencent backs Zhipu, signaling heavyweight support within China’s tech sector.
- Bloomberg is credited with first reporting the companies’ listing plans before the firms confirmed their intentions.
- U.S. AI-linked stocks weakened after Oracle reported an earnings miss, raising fresh questions about how quickly AI investments can be monetized.