Chinese AI startup StepFun to unwind offshore structure to pave way for IPO
Published on: April 13, 2026, 1:19 p.m. | Source: The Economic Times
Shanghai-based StepFun, which develops general-purpose foundation models, has decided an onshore corporate structure would be more appropriate as it is heavily backed by state capital.Founded in April 2023 by former Microsoft Vice President Jiang Daxin, StepFun is regarded as one of China's leading AI startups that have successfully developed large-language foundation models.
