# Chinese AI Companies Dominate Hong Kong IPOs, U.S. Struggles

Page: https://stenobird.com/podcast/business-finance-news-today-2-min-news-the-daily-news-now-7726192/chinese-ai-companies-dominate-hong-kong-ipos-u-s-struggles
Text version: https://stenobird.com/podcast/business-finance-news-today-2-min-news-the-daily-news-now-7726192/chinese-ai-companies-dominate-hong-kong-ipos-u-s-struggles.md
Podcast: [Business News Today | 2 Min News | The Daily News Now!](https://stenobird.com/podcast/business-finance-news-today-2-min-news-the-daily-news-now-7726192)
Published: 2026-05-11T06:06:16+00:00
Episode link: https://api.fastcast.ai/audio/6333c831-aea9-4cb5-8edf-474c890e9390.mp3
Audio file: https://api.fastcast.ai/audio/6333c831-aea9-4cb5-8edf-474c890e9390.mp3
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Duration seconds: 75

## Resource

Chinese AI Companies Dominate Hong Kong IPOs, While U.S. Tech Listings Falter Chinese AI firms are making waves in Hong Kongs IPO market, raking in over twenty-four billion dollars in the first quarter. Key players like Z.ai, MiniMax, Biren Technology, and Iluvatar CoreX Semiconductor, along with Edge Medical, are leading the charge. In stark contrast, U.S. IPOs are struggling, with the median one underperforming its benchmark by forty-two percentage points just one hundred twenty days after listing, marking the worst stretch on record. Investors are losing faith in high-priced software firms due to AI concerns, leading to a SaaSpocalypse. Meanwhile, Hong Kong backers are drawn to the more reasonable valuations and national champion vibe for Chinese tech. Data shows sixty-six percent of U.S. listings since early 2025 are trading below their debut prices, suggesting a potential shift in investment focus towards Asia. Support the show: Get a discount at https://solipillow.com/discount/dnn. Advertise on DNN: advertise@thednn.ai This is an automated, high-level news summary based on public reporting. Report issues to feedback@thednn.ai. View sources & latest updates: https://sources.thednn.ai/e537747809cee4c4

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