# Kiwimoore Hong Kong IPO plans

> Live situation record from CLSTR: https://clstr.news/situations/kiwimoore-hong-kong-ipo-plans
> Updated: 2026-08-23T04:45:06.000Z. Sources: 22. Developments: 2.

Shanghai-based chip designer Kiwimoore has filed confidentially for an initial public offering in Hong Kong. The company is targeting a valuation of approximately $2 billion and aims to list in the first half of 2027.

Kiwimoore specializes in networking technology used to connect artificial intelligence accelerators within computing clusters. The firm is positioning itself to support China’s efforts to create a self-sufficient AI chip supply chain in response to U.S. export restrictions on advanced technologies. CITIC Securities and ABC International are expected to lead the IPO.

## Claims

- Alibaba plans to use 100% of the net proceeds from its HK$80 billion share placement to invest in full-stack AI capabilities, including chips, computing infrastructure, and AI model development. (corroborated by 20 sources)
- Alibaba plans to issue 710 million ordinary shares at a price of HK$112.70 per share. (corroborated by 17 sources)
- The share price of HK$112.70 represents a 3.6% discount to the company's most recent closing price. (corroborated by 17 sources)
- Alibaba's net profit for the April-to-June quarter fell approximately 75% year-over-year to 10.5 billion yuan ($1.6 billion). (corroborated by 16 sources)
- The proposed HK$80 billion ($10.2 billion) share placement would be the largest primary follow-on offering by a company listed in Hong Kong. (corroborated by 12 sources)
- The share placement is restricted to non-U.S. persons and is being offered in offshore transactions under Regulation S. (corroborated by 5 sources)
- Revenue from Alibaba's AI Cloud and Compute Services business increased by 45% to Rmb48.44 billion. (corroborated by 4 sources)
- The equity placement is being conducted to extend the company's global leadership in artificial intelligence. (corroborated by 2 sources)

## Timeline

### 2026-08-23: Alibaba plans HK$80 billion share sale to fund AI expansion

Alibaba plans a record HK$80 billion ($10.2 billion) share placement in Hong Kong to fund full-stack AI development, including chips and infrastructure, following a 75% drop in quarterly net profit.

22 sources. https://clstr.news/cluster/alibaba-group-proposes-hk80-billion-share-placement-in-hong-kong

### 2026-08-13: Kiwimoore plans $2 billion Hong Kong IPO for AI chip technology

Chinese chip designer Kiwimoore has filed for a Hong Kong IPO with a target valuation of $2 billion, aiming to capitalize on China's push for AI chip supply chain self-sufficiency.

4 sources. https://clstr.news/cluster/kiwimoore-plans-2-billion-hong-kong-ipo-for-ai-chip-technology

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Cite as: Kiwimoore Hong Kong IPO plans. CLSTR, https://clstr.news/situations/kiwimoore-hong-kong-ipo-plans