Alibaba and Tencent-Backed AI Startups Set for Hong Kong IPOs Amid Market Volatility

In a significant move for the tech industry, Chinese AI startups MiniMax and Zhipu, supported by tech giants Alibaba and Tencent respectively, are gearing up for their Initial Public Offerings (IPOs) in Hong Kong in early 2026. Having received the green light from China's securities regulator, these listings hold great importance as they come at a time when the global AI market is undergoing considerable fluctuations. This is particularly evident in the wake of the recent downturn in U.S. AI stock prices, triggered by Oracle's earnings miss. The planned IPOs signal not only a milestone for the companies involved but also a test of investor confidence in the evolving AI sector.