AI firms and chipmakers lead Asia listings
Companies in artificial intelligence and adjacent industries are leading Asia's IPOs. Notable among them is LLM developer Moonshot, preparing for a Hong Kong listing.
Companies focused on artificial intelligence and its supporting sectors are at the forefront of IPO activity in Asia. Among the most anticipated debuts is that of language model developer Moonshot, which is planning a listing on the Hong Kong Stock Exchange.
Moonshot has garnered significant attention following the release of its open-source model, Kimi K3, in July. Reports indicate that the model has outperformed similar offerings from competitors like OpenAI and Anthropic in specific benchmarks.
Kling, an AI video generation firm and a unit of short-video platform Kuaishou, is also looking to go public in Hong Kong next year. The company is expected to raise at least US$1 billion from its IPO, following a US$2.8 billion funding round in July.
However, geopolitical tensions and rising interest rates have impacted the IPO timelines for some Asian tech startups. For instance, Philippine data center operator Vitro Inc. has delayed its market debut due to prevailing market conditions and interest rate concerns.