Shengshu Technology, an Alibaba-backed Chinese generative AI startup, is considering a Hong Kong IPO to raise at least $500 million. Founded in March 2023 by a team of researchers from Tsinghua University, the company has experienced remarkable growth, closing a Series B funding round of $293 million in February 2026, expanded to RMB 2 billion in April. It operates with fewer than 100 employees while reporting strong user and revenue growth, driven by Vidu, its AI-powered video and content generation tool. This IPO reflects a broader trend of Chinese AI startups choosing Hong Kong as their gateway to public markets, amid tightening US scrutiny that has made American exchanges less hospitable for some mainland companies.
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