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<p>Two Chinese artificial intelligence startups, MiniMax and Zhipu, are preparing for initial public offerings (IPOs) on the Hong Kong Stock Exchange in early 2026.</p>
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   <li>MiniMax and Zhipu received approval from the China Securities Regulatory Commission (CSRC) to proceed with IPOs.</li>
   <li>Both companies announced plans to complete their Hong Kong IPOs by 2026.</li>
   <li>Meanwhile, in the U.S., investors fled <a href="https://crypto.news/crypto-stumbles-as-dow-rockets-to-record-high-triggering-a-big-ticket-rotation-out-of-tech/" rel="noopener noreferrer nofollow">AI-related tech names</a> on Thursday after Oracle posted an earnings miss.</li>
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<p>The firms have received approval from the China Securities Regulatory Commission (CSRC) to proceed with the listings, the companies stated.</p>
<p>MiniMax and Zhipu have secured backing from major Chinese technology companies Alibaba and Tencent, respectively.</p>
<p><a href="https://www.bloomberg.com/news/articles/2025-12-11/chinese-ai-unicorns-minimax-and-zhepu-said-to-target-hong-kong-ipos-soon" target="_blank" rel="noopener noreferrer nofollow">Bloomberg</a> first broke the news.</p>
<p>Both companies announced plans to complete their Hong Kong IPOs by 2026, according to the statements.</p>
<p>The planned listings would mark significant capital market entries for China’s artificial intelligence sector as the industry continues to attract investor attention amid global competition in AI development.</p>
<p>Meanwhile, in the U.S., investors fled <a href="https://crypto.news/crypto-stumbles-as-dow-rockets-to-record-high-triggering-a-big-ticket-rotation-out-of-tech/" rel="noopener noreferrer nofollow">AI-related tech names</a> on Thursday after Oracle posted an earnings miss, raising alarms about how quickly companies can monetize their AI investments.</p>
<p>The company closed the day at -10%, trading at around $198.85.</p>
<p>Oracle carries more than $100 billion in debt tied to data center expansion. This factor weighed heavily on sentiment and hurt other AI-linked stocks, including Nvidia (closed -1.55%), Broadcom (-1.6%) and CoreWeave (-0.88%).</p>
<p>Read more: <a href="https://crypto.news/chainlink-price-rebound-amid-link-reserve-buying-spree/" rel="noopener noreferrer nofollow"> Chainlink price poised to rebound amid LINK Reserve buying spree </a></p>

Chinese AI firms MiniMax, Zhipu target Hong Kong IPOs in early 2026

crypto.news

Other articles published on Dec 11, 2025

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