TechCheck China’s AI-driven IPO revival 1/5/26
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Jan 5, 2026 
Deirdre Bosa, a tech reporter with insights into market trends and AI phenomena, discusses the resurgence of China's IPO market spurred by AI innovations, like the model maker Mini Max. She highlights how these developments affect U.S.-China tech competition. China's IPOs are surging as startups seek funding earlier, aided by geopolitical shifts and strategic support from Beijing. Deirdre contrasts public valuation in China with U.S. private equity, shedding light on market dynamics and the growing visibility of Chinese tech firms.
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Public Markets Bring AI Price Discovery
- China's public AI IPOs are forcing price discovery that U.S. private valuations currently avoid.
- That visibility gives Chinese investors clearer signals and may fuel a stronger AI trade there.
Blockbuster Debuts Spark Frenzy
- Recent Chinese AI debuts produced huge first-day gains like 500% and 700% surges.
- Minimax and Jipu AI are next in line to list in Hong Kong, continuing the frenzy.
Capital Pools Shape Listing Choices
- China's late-stage private capital pool is smaller, so IPOs are a primary way to raise large sums.
- U.S. model builders remain privately funded, reducing market transparency for investors.