Chinese AI Chip Maker Biren Technology Plans $623 Million Hong Kong IPO
Shanghai-based artificial intelligence (AI) chip manufacturer Biren Technology has announced its plans to raise approximately US$623 million through an initial public offering (IPO) on the Hong Kong Stock Exchange. The move highlights the growing momentum of Chinese AI startups seeking capital market funding as competition in the AI industry intensifies.
Biren Technology, recognized as one of China’s leading players in the graphics-processing-unit (GPU) sector and often referred to as one of the country’s “Four Little Dragons,” plans to issue 247.7 million shares in the IPO. The company has set the price range between HK$17.00 and HK$19.60 per share, targeting a total fundraising amount of around 4.85 billion Hong Kong dollars (approximately US$623.3 million).
The firm expects its shares to begin trading on the Hong Kong Stock Exchange as early as January 2, signaling confidence in the city’s position as a key hub for technology listings. Biren’s IPO is anticipated to be a significant event in what could be another strong year for technology and AI-related offerings in Hong Kong.
This development follows a broader trend of Chinese AI companies accelerating their public listings to capitalize on investor interest and fuel growth amid fierce competition in the AI chip market. Biren Technology’s focus on GPU technology places it at the heart of advancements driving machine learning and AI computations.
As the AI chip landscape continues to evolve rapidly with major global and regional players vying for market share, Biren’s successful IPO could further solidify its competitive standing and provide it with the necessary capital to advance its research, product development, and market expansion efforts.
The news comes amid rising geopolitical and trade complexities affecting the semiconductor industry, underscoring the strategic importance of domestic innovation capabilities in China’s high-tech sector.
Source: The Wall Street Journal
