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Zhipu Al’s successful IPO sets the stage for MiniMax’s market

Cape Argus

January 09, 2026

LEADING

Chinese artificial intelligence startup Zhipu AI soared as it went public in Hong Kong yesterday, a day before rival MiniMax also makes its market debut in a litmus test for the country’s rapidly developing sector.Shares in Zhipu AI, which runs the Z.ai tool, rallied as much as 11.8% in early trade after its oversubscribed initial public offering raised HK$4.35 billion (about R9.21bn).

This week’s flotations come before any IPO announcements from top US startups OpenAI, the maker of ChatGPT, and Anthropic, known for its Claude chatbot.

But analysts said profits were unlikely any time soon from either company the first two IPOs among China’s so-called “six tigers”, generative AI providers competing with tech giants such as Alibaba and ByteDance.

Diese Geschichte stammt aus der January 09, 2026-Ausgabe von Cape Argus.

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