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    AI 🤖Business 💼Cryptocurrency 💰Economy 🏛️Politics 🥸Stock Markets 🤑Technology 🛠️
    Posted 9/18/2023, 1:11:00 AM

    Chinese AI and Tech Firms Seek Big Fundraises in Hong Kong IPOs Despite US Restrictions

    • Chinese AI firm Fourth Paradigm seeking to raise $144M in Hong Kong IPO
    • Three cornerstone investors have committed $96.8M for Fourth Paradigm IPO
    • Fourth Paradigm added to US Entity List, barring US suppliers from providing tech
    • Chinese cloud hospital platform Neusoft Xikang aiming to raise $81M-$101M in IPO
    • Chinese mobile games operator ZX Inc seeking to raise $27M-$34M in Hong Kong IPO
    yahoo.com
    Relevant topic timeline:
    7/26/2023
    Sequoia, Lightspeed Fund AI Startups in Frenzied Back to Back Deals
    - Foundry Technologies is in talks to raise money at a valuation of $350 million, a significant increase from its previous valuation of $50 million. - The increase in valuation highlights the trend of hot companies in the AI sector raising money at rapidly escalating valuations. - Foundry is one of many AI startups that have experienced a meteoric rise in valuation this year. - The company plans to rent servers to companies for running AI software. - The risky pandemic-era fundraising trend of rapidly increasing valuations in short periods of time has returned.
    8/27/2023
    Crypto funding: $24M week for bitcoin miner, crypto lending platform
    Five crypto and blockchain-based companies raised a total of $24 million this week, with notable fundraises including $13 million for bitcoin mining company Nodal Power and $5 million for crypto lender Maple Finance.
    8/30/2023
    SoftBank-Backed Arm Prepares For Blockbuster IPO As Nvidia Continues To Soar Past $1.2 Trillion Market Cap
    British semiconductor designer Arm Holdings is planning a multibillion-dollar initial public offering (IPO) on the Nasdaq Stock Exchange in the US, aiming to raise between $8 billion and $10 billion with a valuation of $60 billion to $70 billion, positioning itself as one of the biggest IPOs of 2023.
    9/11/2023
    Instacart Proposes $8.9B IPO, Offering 22M Shares at $26-$28 Range
    Instacart plans to raise about $594 million in its upcoming IPO by offering 22 million shares at an estimated price of $26 to $28 per share, with a market capitalization of about $8.9 billion.
    9/14/2023
    Databricks Raises $500M at $43B Valuation, Eyes Potential Bellwether IPO
    Artificial intelligence and analytics firm Databricks has raised over $500 million in a Series I funding round, including strategic investor Nvidia, as it prepares for an anticipated IPO and expands its partnership with Nvidia to focus on generative AI. The fundraising round values Databricks at $43 billion and positions it as the eighth-most valuable private company globally. The company is closely monitoring the IPO market but will not be quick to go public, waiting for the macro environment to stabilize.
    9/14/2023
    Arm Holdings Shares Surge in $4.9B Nasdaq IPO, Company's Largest Since Being Taken Private in 2016
    UK chip designer Arm Holdings returned to the stock market with a successful IPO, raising $4.87bn and boosting its market value to over $60bn, driven by investor confidence in the company's growth potential in artificial intelligence (AI).
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