Google cut stake in Mobvoi

Google offloaded 329,000 shares of Chinese artificial intelligence unicorn Mobvoi (2438) for HK$169,800, about nine months after the debut. 

Google’s stake in Mobvoi has decreased from 12.01 percent to 11.99 percent after the sale.

Mobvoi is an artificial intelligence company focused on generative AI and voice interaction. It was listed in Hong Kong on April 24, 2024, becoming the world's first listed company specializing in artificial intelligence-generated content.

However, its stock price quickly plummeted after the opening, making it the third stock on the Hong Kong stock exchange that week to drop more than 20 percent on its debut.

GORDON YANG