Shengshu Technology considers Hong Kong IPO to raise $500M

A Beijing-based AI company with fewer than 100 employees is reportedly weighing a public listing that could value it among the most ambitious generative AI IPOs in Asia. Shengshu Technology, the startup behind the Vidu AI video generation tool, is considering a Hong Kong IPO targeting at least $500 million in proceeds. The move would cap a remarkably fast ascent for a company founded just over three years ago, in March 2023, by a team of researchers with ties to Tsinghua University. It also fits a broader pattern of Chinese AI startups choosing Hong Kong as their gateway to public capital markets. From research lab to IPO candidate in record time Shengshu’s trajectory reads like a speedrun through the typical startup lifecycle. The company closed a Series A+ round exceeding RMB 600 million in February 2026, then followed up just two months later with a $293 million Series B led by Alibaba Cloud. That April round alone, denominated at RMB 2 billion, placed the company squarely in the upper tier of Chinese generative AI fundraises. Baidu Ventures is also among the company’s backers, giving Shengshu connections to two of China’s largest tech ecosystems. The company already maintains a...