GLM-5.2 model developer Zhipu AI is seeking to raise HK$31.4 billion, while chipmaker Iluvatar CoreX is targeting HK$7.1 billion.

Shares worth US$11.5 billion to hit market as record wave of lock-up expirations starts and some firms eye share placements.

Shanghai Iluvatar CoreX Semiconductor plans an $800M share sale in Hong Kong, nearly doubling its public market fundraising as demand for Chinese AI chips

Shanghai Iluvatar CoreX plans to raise $850M in a Hong Kong secondary share sale after its stock surged 428% since its January 2026 IPO.

Shanghai chipmaker Iluvatar CoreX is seeking about $850m in a share sale after a rally that has more than tripled its stock, riding China’s homegrown AI-silicon push.

Zhipu AI plans a $4 billion secondary share sale in Hong Kong after its stock surged 1,500% since its January 2026 IPO that raised $560 million.

The Chinese AI startup defied expectations of selling pressure after cornerstone investors representing nearly two-thirds of IPO cornerstone funding pledged to keep their stakes

GLM-5.2 model developer Zhipu AI is seeking to raise HK$31.4 billion, while chipmaker Iluvatar CoreX is targeting HK$7.1 billion.