Nat Versus the Volcano: Can an AI Investor Solve an Ancient Mystery from the Ashes of Vesuvius?Read more

Xiaomi chairman and CEO Lei Jun. Photo by Bloomberg

The China Tech Companies Headed for IPOs in U.S and Hong Kong

Photo: Xiaomi chairman and CEO Lei Jun. Photo by Bloomberg

This is shaping up to a banner year for Chinese tech companies going public on overseas stock markets, bankers say. At least nine firms have announced plans to go public in either the U.S. or Hong Kong, aiming to raise at least $3 billion total. An additional 30 with valuations of at least $1 billion are in the pipeline. In contrast, just 13 tech companies went public outside China last year, according to Dealogic.

Below, we have highlighted some of the biggest expected deals. Among them: smartphone maker Xiaomi, which is expected to go public in the second half with a valuation that could reach as high as $100 billion, bankers say. Nearly as big will be the market debut of online wealth management platform Lufax, backed by Chinese insurance giant Ping An, which is seeking a valuation of $60 billion. These deals will compete for attention with some high-profile U.S. tech firms that have confirmed their intention to go public, including Dropbox and Spotify.

Access on the go
View stories on our mobile app and tune into our weekly podcast.
Join live video Q&A’s
Deep-dive into topics like startups and autonomous vehicles with our top reporters and other executives.
Enjoy a clutter-free experience
Read without any banner ads.
OpenAI's Greg Brockman (left) and Google's Demis Hassabis (right). Photos by Getty.
AI Agenda google ai
OpenAI Hustles to Beat Google to Launch ‘Multimodal’ LLM
As fall approaches, Google and OpenAI are locked in a good ol’ fashioned software race, aiming to launch the next generation of large-language models: multimodal.
From left, a Google TPU, Broadcom CEO Hock Tan and Google Cloud chief Thomas Kurian. Photos via Getty, Google and YouTube.
Exclusive google semiconductors
To Reduce AI Costs, Google Wants to Ditch Broadcom as Its TPU Server Chip Supplier
Google executives have extensively discussed dropping Broadcom as a supplier of artificial intelligence chips as early as 2027, according to a person with direct knowledge of the effort.
Photo via Midjourney.
AI Agenda startups ai
The Rise of Startups That Help Other Startups Evaluate LLMs
All but a handful of artificial intelligence startups typically fall into one of two camps. The first group uses a single large-language model, typically OpenAI’s GPT-4, to power their applications.
Photos via Eiso Kant (left) and YouTube/VMWare Tanzu (right)
AI Agenda startups ai
How GitHub Copilot’s Co-Creator Raised $126 Million to Compete with His Former Employer
Recent interest in artificial intelligence has focused on large-language models that aim to do everything from writing Shakespearean poetry to solving math riddles.
Art by Clark Miller
The Big Read policy
Europe Has Figured Out How to Tame Big Tech. Can the U.S. Learn Its Tricks?
Late last month in Belgium, Sen. Elizabeth Warren (D-Mass.) had a pressing question for Paul Tang, a Dutch politician and member of the European Parliament.
Art by Mike Sullivan
entertainment media/telecom
Disney-Charter Deal Could Prompt More Cable TV-Streaming Bundles
Last week, Charter Communications, the No. 2 cable provider, and Walt Disney Co. cut a deal to include Disney streaming services, such as Disney+ and a new ESPN service still in the works, with Charter’s cable television packages.