Chinese technology companies are accelerating their fundraising efforts in Hong Kong, tapping buoyant capital markets to finance growth in artificial intelligence, semiconductors, advanced manufacturing and autonomous driving, Reuters reported.According to Reuters, firms spanning AI startups, robotaxi developers, chip designers and industrial manufacturers have collectively raised HK$214.39 billion (about $27.34 billion) in Hong Kong so far this year through listings and share sales.
The fundraising wave underscores investors' continued appetite for technology companies despite broader market volatility.AI and semiconductor firms dominate fundraisingArtificial intelligence and semiconductor companies account for a significant share of the capital raised, reflecting China's strategic focus on strengthening domestic technology capabilities.AI startup Zhipu AI launched a HK$31.41 billion share sale in Hong Kong, according to a term sheet seen by Reuters.
The company had previously raised HK$4.82 billion in its January Hong Kong initial public offering and develops multimodal AI models capable of generating text, images, video, audio and music.Shanghai Biren Technology, another AI chip startup, secured HK$5.58 billion in a Hong Kong listing, with most of the proceeds earmarked for research, development and commercialization of AI processors.Chipmakers step up investmentsSeveral semiconductor companies have turned to Hong Kong to finance research and production expansion.GigaDevice Semiconductor raised HK$4.68 billion earlier this year, with plans to invest in research and development, strategic investments and potential acquisitions.
