Citi sees China AI supply-chain IPOs holding firm despite valuation pullback

Citi Research says demand for Chinese AI hardware listings in Hong Kong remains resilient even as tech valuations cool Wall Street has spent much of 2026 asking whether the world is overbuilding artificial intelligence. Hong Kong’s IPO market, according to Citi, has mostly answered with a shrug and a checkbook. In commentary dated October 14, 2026, Citi Research said investor appetite for Chinese AI hardware companies listing in Hong Kong remains strong. That holds even as valuations pull back and global worries about AI overinvestment keep circulating. According to Citi, interest from international investors is a major force behind the revival in Hong Kong IPO activity. Local liquidity and demand are also helping keep these listings stable, which gives the market support from more than one direction.

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