Alibaba Group Holding Ltd. said it will pursue a public listing for its semiconductor subsidiary T‑Head on the Hong Kong Stock Exchange, confirming that a confidential filing was made on Sept. 11.
T‑Head, which Alibaba describes as a rival to Nvidia, develops artificial‑intelligence chips and other semiconductor products for the company’s cloud and computing services.
The confidential filing signals Alibaba’s intention to raise capital for T‑Head, a step that Chinese technology firms often take before a full IPO.
Listing the chip unit in Hong Kong would give T‑Head access to a broad base of regional investors and fits Alibaba’s broader strategy of expanding its cloud and AI capabilities.
No further details on the timing, valuation or share structure of the proposed listing were disclosed in the announcement.
<small>Source: CNBC — read the original story there.</small>