👋 Hey there, I’m Mike. Each week I share AI articles at the intersection of tech, business, society and the future. If you want to support the channel or gain full-access to my work, go here. Read Archives | See Substack Notes | Visit our community Chat | Visit Homepage. A lot of the West is missing the flurry of IPOs out of China. But how to understand their multiple Stock markets in the AI boom?
Good Morning,
As we get ready for the end of summer a lot is happening in buzzy AI related IPOs, at home but also in China. AI Supremacy publication is dedicated to covering the U.S. vs. China in AI and emerging technology. I’m always on the lookout for new people doing serious coverage.
X.PIN
X.PIN is a Newsletter that covers China’s tech frontiers with deep dives on topics ranging from AI, robotics, EVs to manufacturing and emerging tech. The publication is brand new on Substack, about five months old. Chaping (差评) is actually over a decade strong. It was originally started in 2015 as a WeChat Official Account.
Two of its primary authors here are CT Zhao and Han Chen, please give them a follow if the China AI and tech angle appeals to you. If you follow China and their role in the future of tech you and how it’s impacting Chinese society as a whole, you won’t regret subscribing to their publication:
I asked X.PIN to help introduce my readers to the China stock market scene in the AI boom. This is a rabbit-hole of great interest for China watchers, investors and for those of us trying to have a global understanding of AI and tech.
They cover AI, tech but also the impact with society which I admire. Learn more about the brand. Some of the Chinese IPOs I’m tracking of 2026 are:
For me when DeepSeek IPOs in late 2026 or early 2027 it will be the start of a brave new world. Here is a selection of some of X.PIN work who are incredibly popular on WeChat, among other Chinese platforms. They’ve also made an IPO Atlas.
X.PIN’s Substack Notes are a great way to keep in touch with China AI and tech news. Substack has in 2026 become stronger with voices inside of China doing excellent coverage like Poe Zhao and Tony Peng. So the list is growing of available angles to better understand China Tech and AI.
Their writing tone is accessible and their topics are a bit off-the-beaten track and not your regular Tech coverage, in a good way. Tony Peng also has a China AI Index website to track China AI News and relevant IPOs that complements all of this for readers that want to follow more granular details.
Selection of Recent Articles
Is AI Breaking China’s University?
The DeepSeek Doctrine
Who Pays for AI? How America and China Are Monetizing AI Differently
The End of China’s AI Boyfriends
“Chaping (差评), literally meaning "bad review" or "negative review," is one of China’s most unique tech-focused digital media publications out of Hangzhou, Zhejiang, with a reputation on cutting, sharp, and accessible commentary on the technology industry, consumer electronics, internet culture, and the digital economy.”
So, let’s get into it:
Charting the Incredible China AI Boom
If you are reading this article, you have probably already witnessed Unitree Robotics’ listing on Shanghai’s STAR Market.
Or, more likely, you did not.
That is exactly the point.
This story is not really about one robotics company. It is about an entire market that most global investors rarely see: China’s AI-driven technology rally.
Over the past 18 months, the Shanghai Composite Index has risen 17.3 per cent. That is a respectable return, but it has not beaten the S&P 500 or the Nasdaq. The real gains have happened elsewhere, among the technology companies listed on ChiNext, Shanghai’s STAR Market and the Hong Kong Stock Exchange.
Once you move beyond China’s broad market indexes, the picture changes considerably. Some Chinese AI-related indexes have even outperformed the Nasdaq over the same period.
So why has the rally attracted so little attention?
