SoftBank-Backed AI Robot Developer CloudMinds Weighs $500 Million Hong Kong IPO

(Bloomberg) — Artificial intelligence-powered robot developer CloudMinds Inc. is considering a Hong Kong initial public offering that could raise as much as $500 million, according to people familiar with the matter.

The Shanghai-based firm is working with China International Capital Corp. and Haitong International Securities Group Ltd. on preparations for the share sale, the people said. A listing could take place as early as this year, said the people, who asked not to be identified as the information is private.