New Stock News: Video AI startup PixVerse is reportedly planning to go public in Hong Kong with a valuation exceeding $1 billion.

According to media reports, PixVerse, a video AI startup supported by Alibaba (09988), plans to go public in Hong Kong as soon as this year. The company is currently working with banks including CICC and J.P. Morgan to prepare for the IPO, but the final listing date and valuation details may change. Data shows that PixVerse is a leading global AI video generation platform that uses generative AI, deep learning, and intelligent algorithms to achieve scene, special effects, music generation, and customization options. The platform has over 100 million users worldwide. Its competitors include OpenAI, Seedance under ByteDance, and Alphabet. PixVerse was initially launched in January 2024 by Aishitech. In June 2025, PixVerse introduced the domestic version "Paiwo AI," supporting web and mobile platforms and opening the V4.5 model for user use. In March of this year, Aishitech officially released the new generation video generation model PixVerse V6, and launched PixVerse C1 in early April. The company completed a Series C financing round in March this year, raising $300 million (approximately HK$2.34 billion), making it the largest financing round in the Asian AI video generation sector. After completion, its valuation exceeded $1 billion (approximately HK$7.8 billion). In addition to Alibaba, pre-listing investors in the company include alternative asset management company CDH Investments, investment firm 3W Fund, UOB Venture Management, and early-stage venture capital firm Antler. The company has coverage in 175 countries and has generated over 2.1 billion videos as of March this year, with a monthly active user base of 16 million. Enterprise customers have reported a 68% cost reduction and 57% efficiency improvement compared to traditional processes.