Chinese AI unicorn Fourth Paradigm files for HK IPO
Beijing-based Fourth Paradigm Technology has filed for initial public offering in Hong Kong, with Goldman Sachs and CICC as the joint sponsors. Fourth Paradigm is a Chinese AI software company focused on providing platform-centric AI software that enables enterprises to develop their own decision-making AI applications. The company was founded by China’s first ACM world champion Dai Wenyuan and backed by Tencent and Sequoia Capital. Its shareholders and customers gathered Chinese large state-owned banks, and has raised RMB6.6 billion in seven years since establishment.