Shanghai Stock Exchange (SSE) rolled out new rules letting unprofitable AI firms,especially those on large language models (LLMs),go public . Chinese AI companies are scrambling for funds,competing fiercely with the U.S.
With these new guidelines,firms can list on SSE's Star Market if they expect market cap of at least 4 billion yuan (about US$591 million). They also need to show big market potential and meet certain operational standards. SSE stressed that aim is to back “high-quality” AI companies still lacking major revenue.
To get listed, LLM developers must have launched and run at least one LLM product at scale. And they must show solid commercialization plans. SSE pointed out LLMs are key to global tech competition,highlighting need for these companies to tap capital markets.
Also,SSE broadened listing rules beyond AI. Companies in quantum tech,biomedicine,hydrogen and nuclear fusion energy,brain-computer interfaces,robotics,and 6G can now also go public. This aims to boost China’s self-reliance in science and tech.
Global AI race heats up… these changes show China's push to grow its tech sector while dealing with global challenges.
