From Coinpedia · By Anjali Belgaumkar
Alibaba plans to spin off its semiconductor arm T-Head through a public listing in Hong Kong, after the city’s stock exchange cleared the move. The offering still needs final approval from the Hong Kong exchange and the China Securities Regulatory Commission, and Alibaba has not given a date or deal size. The company said it filed confidentially for the listing on September 11. T-Head develops AI chips meant to reduce China’s reliance on Nvidia amid tighter US export curbs. In September, Alibaba unveiled its Zhenwu V900 chip, which it said is three times more powerful than the Zhenwu M890 released in May. Alibaba’s Hong Kong shares fell 1% on Wednesday and are down about 29% this year. Other Chinese chip listings have stalled, with Baidu reportedly delaying its Kunlunxin IPO and memory maker YMTC putting its plans on hold.
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