By Kate Yuan

(JW Insights) June 9 -- China’s leading AI company Mobvoi (出门问问) submitted an IPO application to the Stock Exchange of Hong Kong on May 30, aiming to become the first AIGC stock on the exchange, Pandaily reported.

Founded in 2012, Beijing-based Mobvoi is a leading AI company with generative AI and voice interaction technology as its core business. It is one of the few AI companies in Asia with the ability to establish universal large language models. It is also one of China’s earliest and highest-revenue AI companies focused on AIGC technology, according to the 2022 AIGC solution revenue calculation.

Li Zhifei, its founder and CEO, holds a Ph.D. in computer science from Johns Hopkins University in the United States. He has previously worked as an AI scientist at Google headquarters and is an expert in natural language processing and artificial intelligence.

Li has been highly sought after by capital since founding Mobvoi. The company has received over $250 million in seven financing rounds from investors including Sequoia China Investment Management LLP, SAI (SIG), Goertek and GV (formerly known as Google Ventures).

Mobvoi has provided services to over 10 million users worldwide since 2020, including content creators, enterprises and consumers, while its AIGC solutions have attracted over 6 million registered users worldwide.

More than 2 million cars have been pre-installed with Mobvoi’s car voice interaction solution since 2020. Its AIoT smart devices have accumulated sales of over 1 million units.

Previously, Mobvoi planned to raise $200-300 million, which will be used to improve technology for model training. By introducing world-leading technology and talent in the next few years, the company aims to optimize its underlying basic and improve existing program algorithms, said the Pandaily report.

(Gao J)