TECH

Alibaba Files to Spin Off Chip Unit in Hong Kong

By Gu Zhaowei and Bao Yunhong

Published: Nov. 11, 2026 4:44 p.m. GMT+8

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Analysts estimate T-Head’s value at anywhere from $25 billion to $86 billion. Photo: VCG

Alibaba Group Holding Ltd. has filed to spin off its wholly owned chipmaking subsidiary in a Hong Kong listing.

The Chinese tech giant announced Tuesday that the unit, T-Head Semiconductor Co. Ltd., had confidentially submitted its application on Sept. 11 to list on the Hong Kong stock exchange’s main board.

T-Head would remain an Alibaba subsidiary after the spinoff, but the offering’s size, structure, and any change in Alibaba’s ownership stake, remain undecided, according to the announcement.

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Alibaba filed confidentially to spin off chip unit T-Head in a Hong Kong listing; T-Head stays a subsidiary.
T-Head aims to raise $2–3 billion by 2027; annualized revenue hit 10 billion yuan ($1.5B) in March.
Analysts value T-Head at $25–86B but flag Alibaba reliance; it holds 7% of China's AI accelerator market.

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Who’s Who

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What Happened When

Sept. 22, 2026：: T-Head unveiled its Zhenwu V900 AI chip at Alibaba's 2026 cloud conference, with mass production and sales scheduled for the first quarter of 2027.

Nov. 10, 2026 (Monday)：: International Financing Review reported that T-Head is aiming to raise $2 billion to $3 billion in an IPO targeted for 2027.

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