Chinese AI start-up ModelBest kicks off pre-IPO tutoring process for mainland listing

Chinese AI start-up ModelBest has kicked off its pre-initial public offering (IPO) tutoring process for a listing in mainland China, capitalising on growing demand for compact Artificial Intelligence models that run locally on devices like smartphones and laptops, and in cars.The four-year-old company also appears to be banking on its small-model strategy to overcome China’s acute shortage of advanced American computing chips by training lightweight systems optimised for domestic processors.ModelBest hired Citic Securities to guide its pre-listing preparation, Citic said in a filing to China’s securities regulator on Wednesday. ModelBest has not disclosed its targeted fundraising size, timeline or where it plans to list.