Infrawaves Files for Hong Kong IPO at USD 1.3 Billion Valuation

Infrawaves filed for a Hong Kong IPO, seeking to list as a China-based AI computing cluster provider.

The company says it manages more than 90,000 GPUs and serves as a leading independent AI infrastructure player.

Revenue has grown rapidly, and Infrawaves says it has been profitable since 2024.

Its latest pre-IPO valuation was about USD 1.3 billion, underscoring investor interest in AI infrastructure.