Shanghai-based Infinigence AI, an AI cloud infrastructure provider, is preparing for a Hong Kong initial public offering as early as the first half of 2027 after a confidential filing to raise several hundred million US dollars, as demand for AI computing rises.

The company has raised 4.3 billion yuan (US$642 million) since it was founded in 2023 and was valued at 14.3 billion yuan (US$2.13 billion) ahead of the planned offering, according to one person.

It also raised more than 700 million yuan (US$104 million) in follow-on funding, and Qiming Venture Partners said it participated in the round, describing Infinigence as an AI infrastructure provider.

Infinigence manages computing capacity across third-party data centers rather than owning the facilities.

It uses domestic chips, including Huawei’s Ascend series and products from Moore Threads, because Nvidia’s most advanced AI chips cannot be sold in China under US trade restrictions.

Huawei separately said demand for its AI chips now outstrips supply.

Hong Kong has a specialist technology listing regime that covers advanced technology issuers, though Infinigence’s filing route and timetable could still change.

🔗 Source: Bloomberg