DeepSeek Rally Helps Chinese Tech Firms Raise More Funds
This article is for subscribers only.
The stars are aligned for Chinese technology companies to boost stock financing, capitalizing on a DeepSeek-driven $1 trillion rally and Beijing’s perceived softer stance on the once-battered sector.
This week, robot maker UBTech Robotics Corp., chipmaker Black Sesame International Holding Ltd. and AI drug-discovery company XtalPi Holdings Ltd. said they were raising as much as a HK$4.2 billion ($546 million) from share placements for things like research and development to business expansion. AI firm Beijing Fourth Paradigm Technology Co. earlier this month also raised about $180 million in a placement.