Chinese AI startups Zhipu and Minimax are expected to join Hong Kong's technology index, a symbolic move reflecting growing investor appetite for Asian AI companies going public or scaling liquidity in regional markets. Both firms have raised billions in Series funding and operate closed-source/open-hybrid LLM models.
The index inclusion signals a shift in how Asian institutional capital is allocating to frontier AI—moving from pure cloud/semiconductor plays to foundation model builders, mirroring the U.S. institutional appetite that has driven Anthropic and OpenAI valuations.