Shanghai charts IPO path for cash-hungry AI labs racing against US

The Shanghai Stock Exchange (SSE) has clarified rules for unprofitable artificial intelligence model developers wanting to go public, as China’s large language model (LLM) firms scramble for fresh capital in an intense race with US labs. LLM developers can go public on the Shanghai bourse’s Star Market under a set of listing standards that require them to have an anticipated market cap of at least 4 billion yuan (US$591 million), as well as meeting certain criteria in terms of market potential,.