{"id":110598,"date":"2025-12-31T00:00:00","date_gmt":"2025-12-31T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/?p=110598"},"modified":"2026-01-04T20:58:30","modified_gmt":"2026-01-04T20:58:30","slug":"adia-going-long-on-china-ai","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/uae\/2025\/12\/31\/adia-going-long-on-china-ai\/","title":{"rendered":"Adia going long on China AI?"},"content":{"rendered":"

The <\/strong>Abu Dhabi Investment Authority (Adia) is reportedly set to anchor the USD 600 mn<\/strong> Hong <\/strong>Kong IPO of Chinese AI startup <\/strong>MiniMax<\/a><\/strong>, alongside China\u2019s e-commerce giant Alibaba, Bloomberg<\/a> reports, citing people familiar with the matter. <\/p>\n

Why MiniMax:<\/strong> Founded in 2022 by a former SenseTime executive, MiniMax is one of the few survivors of China\u2019s generative-AI price war and among the first domestic GenAI players to test public markets.<\/p>\n

What it does:<\/strong> The company builds multimodal models spanning text, audio, images, video, and music, pitching itself as a full-stack AI platform rather than a single-use model provider. It generated USD 30.5 mn in revenue last year, offering investors relatively clean exposure to China\u2019s AI buildout.<\/p>\n

IPO mechanics:<\/strong> The company is targeting a valuation north of USD 4 bn, Reuters<\/a> previously reported. Investor orders could open as early as this week ahead of a January debut, with cornerstone demand expected from Hong Kong-headquartered IDG Capital, China\u2019s Perseverance Asset Management, and South Korean firm Mirae Asset, according to Bloomberg.<\/p>\n

\n

Zoom out<\/p>\n

The transaction fits Adia\u2019s widening exposure across the AI stack: <\/strong>As we previously reported, an Adia subsidiary and Singapore\u2019s GIC wrapped up a USD 1.6 bn equity investment in Vantage Data Centers<\/a> last month, scaling hyperscale capacity across Asia to roughly 1 GW.<\/p>\n

\n

The bigger signal<\/p>\n

This also lines up with a rotation we\u2019ve been tracking<\/strong> \u2014 global capital moving into Chinese<\/a>AI<\/a> on cheaper valuations and power advantages, as scrutiny intensifies around the cost curve and returns of US-led AI spending. However, the UAE\u2019s AI ties to China have recently been somewhat thorny after the supply of US Nvidia chips to state AI firm G42<\/a> was contingent on severing ties with Chinese tech firms and divesting from Huawei. <\/p>\n","protected":false},"excerpt":{"rendered":"

MiniMax is among the few survivors of China\u2019s generative-AI shakeout and is positioning itself as the first domestic GenAI listing<\/p>\n","protected":false},"author":1,"featured_media":110599,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2414],"tags":[368,610,7,88,1342,1392,2413,965],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-110598","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-big-story-today","tag-abu-dhabi-investment-authority","tag-artificial-intelligence","tag-enterpriseam-uae","tag-hong-kong","tag-investment","tag-ipo","tag-the-big-story-today","tag-uae-china-relations","wpautop","entry"],"acf":{"mongo_id":"8060cc6a-300f-47b9-ad1a-9b83c6f0d8e6","order":"3","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/7\/138.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Adia reported as anchor investor for Chinese AI startup MiniMax\u2019s USD 600 mn IPO","related_issue":[110593],"teaser":"MiniMax is among the few survivors of China\u2019s generative-AI shakeout and is positioning itself as the first domestic GenAI listing"},"yoast_head":"\nAdia going long on China AI? 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