Alibaba plans to list T-Head, its Nvidia rival in the chip sector, on the stock exchange

The public offering of T-Head shares in Hong Kong remains a plan: Alibaba has not announced the listing date or the expected offering volume. Approval from the Hong Kong Stock Exchange and the China Securities Regulatory Commission will be required for the deal.

The company stated that it had already filed a confidential application for T-Head’s listing on 11 September. On Wednesday morning, Alibaba shares trading in Hong Kong fell by 1%. Since the beginning of the year, they have declined by approximately 29%.

At the end of September, Alibaba introduced the Zhenwu V900 artificial intelligence chip. According to the company, its performance is three times higher than that of the previous model, the Zhenwu M890, released in May. Alibaba is among Chinese companies, including Huawei, that are developing their own AI semiconductors amid tightening US restrictions on China’s access to chips.

In recent months, Chinese financial regulators have strengthened oversight of technology IPOs and capital inflows into the sector. Against this backdrop, media reports indicate that Baidu has postponed the listing of its AI chip subsidiary Kunlunxin, and Chinese memory chip manufacturer YMTC has delayed its own offering. Neither company responded to requests for comment.