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AI advancements surge as OpenAI integrates ChatGPT into Mac apps and Qwen3-235B outperforms rivals, but political moves like Trump's AI order spark bias concerns.

Alibaba-Backed ‘AI Dragon’ MiniMax Is Said to Plan Hong Kong IPO

BloombergWednesday, June 18, 2025 at 9:41:02 AM
PositiveTechnologyAI Industry
Alibaba-Backed ‘AI Dragon’ MiniMax Is Said to Plan Hong Kong IPO
MiniMax, a Chinese AI startup backed by Alibaba and valued at around $3 billion, is reportedly eyeing a Hong Kong IPO. If it goes ahead, this would be a major milestone—not just for the company, but for China's AI sector, marking one of the first big public debuts in the space.
Editor’s Note: This isn’t just another IPO rumor—it’s a signal that China’s AI scene is maturing fast. MiniMax’s move could pave the way for other homegrown AI firms to go public, testing investor appetite in a sector that’s been buzzing with hype but still lacks big-name stock market players. For Hong Kong, it’s also a chance to reinforce its role as a hub for tech listings, especially as geopolitical tensions complicate U.S. listings for Chinese firms.
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