01.ai Plans IPO in Hong Kong by 2027 with 50% Revenue from Overseas Business
01.ai plans to conduct an initial public offering (IPO) in Hong Kong after the end of the fiscal year 2027 and will seek Pre-IPO financing during its first annual performance announcement. To comply with the Hong Kong Stock Exchange's listing regulations for specialized technology companies, 01.ai is adjusting its overseas holding structure. Founded in 2023, the company achieved a valuation of over $1 billion within eight months after receiving investments from institutions such as Alibaba Cloud. 01.ai has completed a strategic business transformation, shifting from developing cutting-edge large language models to building AI infrastructure services for enterprises, primarily fine-tuning and customizing domestic open-source models such as DeepSeek, Alibaba Qianwen, and Zhiyu GLM. Currently, approximately 50% of 01.ai's business revenue comes from overseas markets.
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