Alibaba's chip design unit T-Head files for Hong Kong IPO
Alibaba said the Hong Kong Stock Exchange has cleared it to spin off T-Head, its wholly owned data-center and AI chip designer, and that T-Head confidentially filed its listing application on Sept. 11. The offering would include a Hong Kong public tranche and an institutional placing; its size, timing and how far Alibaba's stake falls are not finalized, and T-Head is expected to remain an Alibaba subsidiary. The deal still needs Listing Committee approval and a China Securities Regulatory Commission filing. IFR reported the IPO could raise about $2-3 billion in 2027.
Source: Bloomberg