Alibaba announced Tuesday evening that the Hong Kong Stock Exchange will allow the spin-off of its semiconductor subsidiary T-Head, subject to approval from the exchange and China’s securities regulator. The company plans to make a public offering of T-Head shares in Hong Kong but has not disclosed a date or size for the listing. Alibaba’s shares fell 1% Wednesday morning after losing about 29% year to date. In September, the company unveiled its Zhenwu V900 artificial intelligence chip, which it says delivers three times the performance of its predecessor, the Zhenwu M890. The announcement comes amid tighter U.S. restrictions on China’s access to advanced chips and increased scrutiny by Chinese financial regulators over technology listings.
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