Domestic Large Models Trigger a New Wave of IPOs, Jieyue Star Pursues Hong Kong's Largest AI IPO in Recent Years

Chinese AI startup Jieyue Star is expected to submit its IPO application to the Hong Kong Stock Exchange this week, with a valuation as high as $12 billion, potentially becoming one of the largest IPOs in Hong Kong in recent years. The company was founded by Jiang Daxin, former vice president of Microsoft, in 2023. It has recently appointed Yin Qi of Megvii Technology as chairman and is accelerating its capital market strategy.