Chinese AI startup Zhipu is considering shifting its planned initial public offering to Hong Kong instead of mainland China, according to people with knowledge of the matter, adding to a dealmaking boom in the city.
Zhipu, whose backers include Alibaba Group Holding Ltd. and Tencent Holdings Ltd., is working with financial advisers on a potential first-time share sale that could raise about $300 million, said the people, asking not to be named because the deliberations are private.
Zhipu, one of a handful of Chinese startups trying to take on OpenAI globally, had been initially preparing for a domestic listing ...
