Artificial intelligence unicorns MiniMax and Zhipu are reportedly set to soon target the Hong Kong IPO.

According to media reports citing informed sources, MiniMax, based in Shanghai, has received support from companies such as Alibaba and Tencent Holdings Limited, with its IPO plan set to launch as early as January. The sources say that the IPO could raise hundreds of millions of dollars. They also mentioned that another company supported by tech giants Alibaba and Tencent, named Zhipu, is also planning to go public around the same time.