Why Hong Kong is now the launch pad for mainland China’s AI champions

Chinese artificial intelligence companies are upending a decades-old dual-listing practice of selling shares domestically first and then in Hong Kong, as they reverse the sequence to anchor market-based valuations from global investors and tap more sophisticated capital to support growth. AI model developer MiniMax Group and peer Knowledge Atlas Technology, also known as Zhipu, spearheaded the new trend, saying they hired brokerages to prepare for mainland China stock offerings after completing...