Hong Kong bankers skip summer break as AI drives record fundraising

Hong Kong’s equity capital markets raised a record $47.5 billion between July and September, according to Bloomberg’s October 3, 2026 report. Artificial intelligence was the main driver, and the dealmakers handling those share sales largely gave up their summer break to keep up.

A quarter for the record books

The $47.5 billion figure covers the full spread of equity fundraising: initial public offerings, share placements and block trades. A placement is a company selling new shares directly to a group of investors. A block trade is a big chunk of existing stock changing hands in a single transaction.

The quarter also lifted 2026’s year-to-date total above $92 billion. That leaves the city within striking distance of its full-year record of $112.5 billion, set in 2021.

Goldman Sachs has indicated that equity issuance in 2026 could surpass the regional record set in 2021, with AI demand doing the heavy lifting.

Zhipu AI and the $5.8 billion week

The standout transaction of the summer belonged to Zhipu AI. The company secured $4 billion through a share placement in July.

That deal sat inside a broader wave of $5.8 billion in AI financing that week. Notably, the Bloomberg report found that this funding burst bypassed the traditional Wall Street banks.

Zhipu AI was not the only AI name tapping the market this year. Earlier in 2026, MiniMax Group raised approximately $619 million in its IPO.

What this means for investors and the market

For investors, the record quarter signals strong appetite for AI-linked equity in Asia. When a single placement can raise $4 billion, institutional buyers are clearly willing to commit serious money to the sector.

The $5.8 billion AI funding week happened without the traditional Wall Street banks, according to Bloomberg. If that becomes a pattern rather than a one-off, fee pools that once flowed to large US firms may increasingly land elsewhere.

The year-to-date total sits above $92 billion, against the 2021 high of $112.5 billion. Goldman Sachs’ view that 2026 could surpass that mark hinges on the fourth quarter staying busy.

Disclosure: This article was edited by Diego Almada Lopez. For more information on how we create and review content, see our Editorial Policy.