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Alibaba applies to list AI chip unit T-Head in Hong Kong

Alibaba has applied to list its AI chip unit T-Head in Hong Kong. China also plans a $2 billion bond sale in the city.

Illustration: A single oversized silicon chip with fine gold pins stands on a lime green backdrop, with crisp shadows and a tiny tweezers beside it.
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Alibaba has applied to list T-Head, its chip-design unit, in Hong Kong. The move comes as the city's initial public offering (IPO) market cools. An IPO is a company's first sale of shares to the public.

Alibaba stated on Tuesday that the Hong Kong bourse has signed off on the planned split. In September, a private application to list was submitted. T-Head designs end-to-end chips for data centers running artificial intelligence (AI), and it will stay part of the group.

Alibaba Group Holding Limited$94.60down −14.66%over 1 month
$111.17$94.6013 Oct12 Nov

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Separately, China plans a $2 billion bond sale in Hong Kong. A bond is a loan that investors buy, and the plan comes as bond issuance in the city grows.

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Background

Hong Kong's IPO market has cooled after a period of strong activity.

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