Alibaba's semiconductor subsidiary T-Head plans to go public in Hong Kong in 2027, targeting a fundraising of at least $2 billion to $3 billion (approximately HK$15.6 billion to HK$23.4 billion), according to reports citing foreign media and Sina Tech. Alibaba had not issued an official response as of press time. Founded in 2018 by integrating acquired C-SKY Microsystems with DAMO Academy's chip team, T-Head produces XuanTie processors, Yitian server chips, Hanguang AI chips, and PPU chips. Alibaba CEO Eddie Wu previously disclosed on an earnings call that the unit has achieved commercialization, shipping over 470,000 chips with annualized revenue exceeding RMB 10 billion.