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Fortune

Nicholas Gordon

Manycore, the first of the Hangzhou ‘Little Dragons’ to go public, pushes ‘spatial intelligence’ as the next wave of AI development

Hangzhou United States Hong Kong IPO China Yann LeCun HP

(Credit: Zhang Xiangyi—China News Service/VCG/Getty Images)

Hong Kong’s AI IPO boom produces its latest entrant today, as design AI startup Manycore Tech begins trading after seeking up to 1.02 billion Hong Kong dollars ($130 million) in funding, becoming the first of China’s six celebrated “Little Dragons” from Hangzhou to reach public markets.

“The IPO is important for us to attract the most talented engineers to join us, to buy more GPUs, and to collect more data,” Victor Huang, Manycore’s chair and one of its cofounders, told Fortune ahead of the trading debut.

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