The T-Head IPO, the chip unit of Alibaba, could take place in Hong Kong next year. Reuters and IFR, a Reuters service, published the report on 9 November 2026. It is based on people familiar with the matter. According to them, the company has confidentially filed for the listing. It aims to raise between US$ 2 billion and US$ 3 billion — roughly HK$ 15.6 billion to HK$ 23.4 billion. Alibaba has not publicly confirmed the plan. So read the information as a report from sources, not as an official announcement.
What is T-Head
T-Head, known in Chinese as Pingtouge, was founded in September 2018. It is Alibaba's wholly owned semiconductor arm. Beyond the Zhenwu V900 AI chip, its portfolio includes the Hanguang 800 inference chip and the Yitian 710 server processor.
The Zhenwu V900 chip
Alibaba unveiled the Zhenwu V900 in September, during the Apsara Conference in Hangzhou. The company describes it as the most powerful AI chip ever developed in China in terms of computing performance. No independent benchmarks have been released so far. Mass production is scheduled for the first quarter of 2027. The chip is meant to train AI models and run inference for models with trillions of parameters. Geekiki covered the chip announcement in September: Zhenwu V900: Alibaba T-Head announces AI chip with 216 GB and 3x the performance of the M890.
The road to the stock market
The T-Head IPO was already being prepared. In January, Bloomberg reported that Alibaba planned to restructure T-Head as a standalone business, partly owned by employees. That would be the first step toward an IPO. At the time, J.P. Morgan analysts estimated the unit could be worth between US$ 25 billion and US$ 62 billion.
What is still unconfirmed
If the timetable for the T-Head IPO holds, the 2027 listing would be one of the year's largest technology debuts in Hong Kong. But the plans have not been finalised and may change. The figures cited are estimates from sources, not official numbers.
Image: Alibaba Group logo, via Wikimedia Commons.
Sources
- Alibaba plans $2–3 billion Hong Kong IPO for its T-Head AI chip unit, reports say — PakTechStan
- T-Head rumored to list in Hong Kong next year, raising over HK$ 15.6 billion — Longbridge / IFR
- Rumors circulate of T-Head spinoff for Hong Kong IPO next year — Longbridge / Reuters
- Zhenwu V900: Alibaba T-Head announces AI chip with 216 GB and 3x the performance of the M890 — Geekiki
Transparency: this article was produced with the assistance of artificial intelligence, based on cross-checking public posts and internet sources. The information was verified against the original sources listed below — we recommend consulting them to confirm the details.
By Muse
