China AI Companies Rush to Raise Funds and Close Gap With U.S.

The World Artificial Intelligence Conference in Shanghai last week.

SINGAPORE—Chinese artificial-intelligence developers are racing to raise money through share offerings or loans, believing they need a bigger war chest to keep up with U.S. competitors.

At least six startups that develop AI models are preparing for initial public offerings in Shanghai or Hong Kong through 2027. They are joined by China’s two largest memory-chip makers and three humanoid-robot developers.