Nvidia Alum Rides China’s Robotics Wave to 187% Debut Pop

Manycore Tech Inc. built a billion-dollar valuation in China’s once-sizzling real estate market. Now, the software unicorn is betting on robotics and AI for its second act.

The Hangzhou-based company is pushing to sell AI services based on the vast pools of 3D data derived from its popular interior design tool, wooing investors to an oversubscribed Hong Kong debut on Friday that raised $156 million. The shares soared as much as 187% in early trading.

For co-founder Huang Xiaohuang, the listing is something of a rebirth. Manycore still makes the bulk of its revenue from its Kujiale home ...