Fourth Paradigm Rides AI Wave To IPO, But Faces Choppy Waters

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Key Takeaways:Fourth Paradigm’s IPO application has been accepted by the Hong Kong Stock Exchange, as it targets up to HK$1.15 billion in fundraisingThe AI company lost 291 million yuan on 644 million yuan in revenue in this year’s first quarterBy Lau Chi Hang With artificial intelligence (AI) all the rage these days, companies from the space are seizing on the craze to tap capital markets to feed their hungry R&D machines. Following the 2021 IPO that made SenseTime (0020.HK) China’s first AI company to list in Hong Kong, another sector leader, Beijing Fourth Paradigm Technology Co. Ltd. (6682…

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