Tencent-backed Infinigence Eyes Hong Kong IPO
AI cloud infrastructure provider Infinigence AI is preparing for a Hong Kong stock exchange listing, potentially as early as the first half of 2027, amid rising demand for AI computing power.
Shanghai-based Infinigence AI, a provider of AI cloud infrastructure, is preparing for an initial public offering in Hong Kong, potentially as early as the first half of 2027. The company has made a confidential filing to raise several hundred million US dollars as demand for AI computing power surges.
Founded in 2023, Infinigence has raised 4.3 billion yuan (approximately US$642 million) and was valued at 14.3 billion yuan (approximately US$2.13 billion) ahead of the planned offering. The company has also secured over 700 million yuan (approximately US$104 million) in follow-on funding.
Infinigence manages computing capacity across third-party data centers rather than owning the facilities. The company utilizes domestic chips, including Huawei's Ascend series and products from Moore Threads, due to US trade restrictions preventing the sale of advanced Nvidia AI chips in China.
Hong Kong has a specialist technology listing regime, but Infinigence's filing route and timetable may still change. Tencent is among the company's investors.