[Alibaba's T-Head Semiconductor Reportedly Plans Hong Kong IPO in 2027, Aiming to Raise at Least $2 Billion] According to Sina Technology, citing foreign media reports, Alibaba's semiconductor subsidiary, T-Head, plans to IPO in Hong Kong in 2027, aiming to raise at least $2 billion to $3 billion (approximately HK$15.6 billion to HK$23.4 billion). As of press time, Alibaba has not officially responded. Founded in 2018, T-Head is a product of the integration of Alibaba's acquired Zhongtian Microsystems and the chip team from DAMO Academy. Its product line includes the XuanTie processor, Yitian server chips, HanGuang AI chips, and PPU chips. Alibaba CEO Wu Yongming previously disclosed in an earnings call that T-Head has achieved commercialization, with over 470,000 chips produced and annualized revenue exceeding 10 billion yuan.