Chinese AI start-up ModelBest, partner to Samsung and Huawei, launches pre-IPO process
Company says it has hired Citic Securities to guide pre-listing preparation but has not announced further details of plans
Chinese AI start-up ModelBest has kicked off its pre-initial public offering (IPO) tutoring process for a listing in mainland China, capitalising on growing demand for compact artificial intelligence models that run locally on devices like smartphones and laptops, and in cars.
The four-year-old company also appears to be banking on its small-model strategy to overcome China’s acute shortage of advanced American computing chips by training lightweight systems optimised for domestic processors.
ModelBest hired Citic Securities to guide its pre-listing preparation, Citic said in a filing to China’s securities regulator on Wednesday. ModelBest has not disclosed its targeted fundraising size, timeline or where it plans to list.