Alibaba and Abu Dhabi Investment Authority (ADIA) are set to support Chinese artificial intelligence startup MiniMax in its upcoming Hong Kong IPO. MiniMax is aiming to raise around $300 million in the IPO, which could potentially value the company at $1 billion. The backing from Alibaba and ADIA highlights the growing interest in AI technology in the region.

Read more at Investing.com: Alibaba, ADIA to back Chinese AI startup MiniMax’s Hong Kong IPO