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‘Vibe coding’ is fun and easy, but there’s a major catch 
Chinese artificial intelligence startup Vast is reportedly exploring a potential initial public offering (IPO) in Hong Kong, signaling growing investor interest in China's fast-expanding AI sector. According to a Bloomberg News report citing sources familiar with the matter, the company is working with Bank of America and China International Capital Corp (CICC) on preparations for a possible share sale. However, discussions remain ongoing, and no final decision has been made regarding the listing.
Founded in 2023 by Simon Song, one of the founding members of large language model developer MiniMax, Vast has quickly emerged as one of China's most promising AI startups. The company is best known for Tripo Studio, an AI-powered platform that allows developers, designers, and creative professionals to generate high-quality 3D models from simple text descriptions or image prompts.
The rapid rise of generative AI has fueled demand for tools that streamline digital content creation, placing platforms like Tripo Studio in a strong position to benefit from expanding adoption across gaming, design, entertainment, and virtual reality industries.
Vast has attracted backing from several major technology and investment firms, including Alibaba, Baidu, and Ince Capital. The startup has also established a strategic partnership with Chinese gaming giant NetEase, further strengthening its position within China's AI ecosystem.
Bloomberg also reported that Vast recently secured nearly $200 million in fresh funding, lifting its valuation to approximately $1 billion. The milestone officially places the company among China's growing list of AI unicorns, reflecting strong investor confidence in its technology and long-term growth prospects.
If the IPO proceeds, Vast would join a wave of Chinese artificial intelligence companies seeking capital through Hong Kong's stock market, which has become an increasingly attractive destination for high-growth technology firms. A successful listing could provide the company with additional resources to expand its AI capabilities, accelerate product development, and compete more aggressively in the global artificial intelligence market.
