AI mega-listings ‘just the start,’ Razer CEO says, ahead of SpaceX IPO

Blockbuster IPOs by companies involved in the global AI race could be a permanent feature of the industry, Min-Liang Tan, CEO of Singaporean gaming company Razer, said on Thursday ahead of widely anticipated IPOs of major AI companies.

“I think it’s very exciting to see so many new companies coming to the public capital markets, but I think this is just the beginning,” Tan told CNBC’s Joanna Ossinger at the SuperAI convention in Singapore, citing IPO filings from tech giants SpaceX, Anthropic and OpenAI.

“We will see a second generation, a third generation, different waves coming,” he added.

Tan’s remarks came a day before Elon Musk’s SpaceX. Includes xAIX and Musk’s business unit that oversees the Grok model is making its public debut, aiming for a historic $1.77 trillion valuation in its IPO.

OpenAI filed to go public in the U.S. on Monday afternoon, on the heels of rival Anthropic, which filed for an IPO with the U.S. Securities and Exchange Commission a week ago.

Antropik closed Series H financing round On May 28, it surpassed OpenAI with a valuation of $965 billion. valuable It was 852 billion dollars in March.

Unlike the frenzy of applications from AI companies preparing to make their Wall Street debut, Tan’s Razer removed from list from the Hong Kong Stock Exchange in April 2022 after five years at the stock exchange, in a move he said was to allow them to focus on artificial intelligence development.

In Razer’s privatization deal, a consortium of investors led by co-founder Tan and Hong Kong-based private equity firm CVC Capital Partners bid up to 10.79 billion Hong Kong dollars ($1.38 billion) to buy shares they did not own at HK$2.82 apiece. The company debuted in 2017 with an IPO price of HK$3.88 per share.

The company announced in February More than 600 million dollars were invested It operates in the field of AI development and has launched a suite of wearable AI products for its core gaming-focused audience.

Tan was launched Motoko Project — the artificial intelligence headset the company debuted at CES in January — is onstage at SuperAI, providing users with real-time translation services, cooking guidance and repair instructions.

Other AI hardware offerings from Razer It includes Ava, a workstation and AI desktop assistant designed for heavy AI workloads.

“We are all about artificial intelligence,” Tan said, adding that the company is researching how artificial intelligence can exhibit human-like personalities and emotions.