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