Momenta was listed on the Hong Kong Stock Exchange today: it opened more than 6% and its market value exceeded HK$70 billion. Physics AI company Momenta was officially listed on the Hong Kong Stock Exchange, becoming the "first stock in physics AI"

Momenta was listed on the Hong Kong Stock Exchange today: it rose more than 6% at the opening and its market value exceeded HK$70 billion. The physics AI company Momenta was officially listed on the Hong Kong Stock Exchange, becoming the "first physics AI stock". The stock price opened up by more than 6% on the first day, and the total market value exceeded HK$70 billion. According to the placement results previously announced by Momenta, the listing price is HK$295.6 per share. Assuming that the "green shoe" (over-allotment option) is fully exercised, the global offering of approximately 22.93 million shares will raise a total of approximately HK$6.8 billion. In terms of market subscription, the public offering was oversubscribed 414 times; the international offering received institutional orders of more than HK$100 billion, covering sovereign funds and long-term funds from 15 countries and regions. The total oversubscription (after excluding cornerstones, before green shoes) reached approximately 44 times. It is reported that Momenta’s anchor subscription lineup this time is luxurious, including the Government of Singapore Investment Corporation, Fidelity International and other top global institutions; it is also understood that Momenta has introduced a total of 14 institutions to form a cornerstone investor lineup for this IPO, with a total cornerstone subscription of approximately 3 billion Hong Kong dollars (approximately US$376 million). Just the day before, Momenta announced that its mass production business had exceeded 1 million units. At the listing ceremony, Momenta CEO Cao Xudong said: "Ten years ago, we founded Momenta to follow a simple but determined mission: Better AI, Better Life. Better AI comes from our curiosity. Our obsession and curiosity about artificial intelligence make our lives 'vibrant'. Better AI Life carries our sense of mission. We believe that the value of technology lies in making people’s lives safer, freer, and better. Therefore, we have set a three-year vision: saving millions of lives in ten years, liberating 100% of time in ten years, and doubling logistics efficiency in ten years. Today, we have brought a safer and more secure driving experience to more than 1 million users.” When talking about the company's future development direction, Cao Xudong started from the company's past technology accumulation and extended it to the next stage of intelligent scenarios. "In the past ten years, we have let AI learn to drive, bringing full-time drivers to every family; in the next ten years, we will bring full-time aunts, doctors, teachers and other robot service scenarios to every family, creating a 'GPT moment' for physical AI. I hope to work with all Chinese AI companies to write the legend of Silicon Valley in the East, embrace the world, and let the world embrace Chinese technology." via cnBeta.COM - Chinese Industry Information Station (author: Source: Sina Technology)