AI data centre supplier Zhongji InnoLight falls on Hong Kong debut / Photo: © AFP
-
Son at the double as MLS All-Stars beat Liga MX 4-3
-
Australia ask for more information on FIFA sell-off plan
-
Meet the astronomer digging into the Milky Way's 'fossils'
-
South Korean stocks bounce after rout, oil holds gains on Mideast woes
-
French teen fined in Singapore 'straw licking' case
-
Stokes should return for 'one more Ashes': Australia coach McDonald
-
AI data centre supplier Zhongji InnoLight falls on Hong Kong debut
-
Ngumoha scores as Liverpool beat Wrexham 1-0 in New York friendly
-
South Korea's women web sleuths fight AI deepfake porn
-
Up to 23 feared dead in Japan quake
-
Rushdie assailant convicted of terrorism charges
-
Samsung operating profit up 1,800% in second quarter on AI boom
-
Australian regulator says Telegram breached online safety law
-
De Zerbi wants Bergvall at Spurs, but can't promise starting role
-
New Zealand foreign minister in racism row with Chinese ambassador
-
De Minaur tops Tsitsipas to set up Hewitt clash in Washington
-
Messi returns to Miami training after World Cup break
-
Japanese population below 120 million for first time in decades
-
Idi Amin's grandson disqualified from Commonwealth boxing bout
-
Meta misses profit expectations, sticks to massive AI spending
-
O'Connor wins Commonwealth heptathlon as Australia set new record for swimming golds
-
Inequality best predicts how nations handle pandemics: study
-
De Minaur beats Tsitsipas to set up Hewitt clash in Washington
-
Brazil's Jair Bolsonaro denies authorizing deepfake for election message
-
Nigeria dismantles meth lab, but fears of Mexican cartel links linger
-
Boaduwaa strikes as Ghana beat WAFCON debutants Cape Verde
-
FIFA proposal 'an opportunity but not an obligation', says Infantino
-
US actor Jared Leto denies latest accusations of sexual assault
-
Campari - king of the spritz - hopes to conquer American heartland
-
Danube drops to 'historic lows' as fresh heatwave hits
-
Mancini wants Italy back to trophy-winning ways
-
US Federal Reserve holds rates steady as inflation hawks call for hike
-
Torrey Pines added to new PGA Tour top-level series from 2028
-
Eala beats defending champ Fernandez in Washington
-
Air France-KLM and Lufthansa bid for Portugal's TAP airline
-
US man accused of destroying evidence by wiping phone at airport
-
Korda seeks 'control' as she chases history at women's British Open
-
BTS pulls out of Grammys after Asian pop category introduction
-
Profits soar at Airbus as it delivers more planes
-
Judge orders Amy Winehouse's father to pay nearly £1mn to her friends
-
US-Saudi strikes in Iraq kill 20, including Iranians
-
Crisis-hit Cuba opens pharmacies, gas stations to private firms
-
Brazil court scrutinizes Jair Bolsonaro deepfake endorsing son
-
Pro-Kremlin TV commentator ordered to leave France, under house arrest
-
OpenAI says rogue AI agent attack hit other companies
-
'I started crying': Battle to tame fresh blaze near French seaside
-
Irish singer, musician Glen Hansard killed in motorbike crash at 56
-
Former top US Covid expert Fauci declines to answer hostile Senate questioning
-
Ukraine appeals against Russian return to Olympics
-
Neymar says his time playing for Brazil 'is over'
AI data centre supplier Zhongji InnoLight falls on Hong Kong debut
Shares in China's Zhongji InnoLight fell in the first few minutes of its Hong Kong debut Thursday, after raising at least US$6.8 billion in the city's biggest IPO since 2019.
The firm, which makes high-end optical components for AI data centres, dropped more than 8.5 percent to HK$895 at around 10:17 am (0217 GMT).
The Shenzhen-listed firm priced shares at HK$980, raising about HK$53.4 billion (US$6.8 billion) in Hong Kong's biggest public offering since Chinese tech behemoth Alibaba listed in 2019.
Zhongji InnoLight is one of several Chinese firms blacklisted by the US Department of Defense in June over alleged military ties.
The company rejected the US claims in its filing to the Hong Kong stock exchange, saying "we have not engaged in any military-related businesses or activities".
It warned investors that the blacklist "may subject us to increased scrutiny and potential further government actions".
China and the United States are locked in a race for dominance in the fast-moving AI field, fuelling huge global expansion of data centres -- warehouse-like facilities crammed with computer servers.
Thursday's listing is the latest in a recent run of blockbuster debuts from Chinese AI-related companies in Hong Kong, indicating optimism for China's ambitions in the sector.
E.Schubert--BTB
