Alibaba's T-Head Said to Plan 2027 Hong Kong IPO, Aiming to Raise at Least $2 Billion

November 10 — Citing foreign media reports, Sina Tech reported that Alibaba's semiconductor subsidiary T-Head plans to hold an IPO in Hong Kong in 2027, aiming to raise at least $2 billion to $3 billion (about HK$15.6 billion to HK$23.4 billion). Alibaba had no official response as of press time. Founded in 2018, T-Head was formed by integrating C-SKY Microsystems, which Alibaba acquired, with DAMO Academy's chip team. Its product line includes XuanTie processors, Yitian server chips, Hanguang AI chips and PPU chips, among others. Alibaba CEO Eddie Wu previously disclosed on an earnings call that T-Head has achieved commercialization, with chip volume exceeding 470,000 units and annualized revenue above the RMB 10 billion level.