MiniMax and Zhipu secured CSRC approval for Hong Kong IPOs planned in early 2026, marking major moves for China’s AI sector. Meanwhile, U.S. AI stocks slid after Oracle’s earnings miss spooked investors.

"The planned listings would mark significant capital market entries for China’s artificial intelligence sector as the industry continues to attract investor attention amid global competition in AI development. Meanwhile, in the U.S., investors fled AI-related tech names on Thursday after Oracle posted an earnings miss, raising alarms about how quickly companies can monetize their AI investments."

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