Home / Business and Economy / MetaX IPO Surges: China's AI Chip Ambitions Soar
MetaX IPO Surges: China's AI Chip Ambitions Soar
17 Dec
Summary
- MetaX's IPO was oversubscribed nearly 3,000 times by retail investors.
- The company designs AI GPUs, aiming to rival Nvidia's advanced chips.
- MetaX's market debut follows Moore Threads' significant stock market gains.
MetaX Integrated Circuits Shanghai Co. has launched its initial public offering, securing $585.8 million and experiencing an extraordinary retail subscription rate of 2,986 times. This highly anticipated debut underscores China's significant push into the artificial intelligence chip market, with MetaX focusing on graphics processing units (GPUs) crucial for AI development and visualization applications.
The company's GPUs are designed to compete with high-end offerings from global giants like Nvidia, particularly as US export controls restrict access to advanced American-made chips. MetaX's AI-focused Xiyun C500 series and newer C588 generation are claimed to be closing the performance gap, signaling growing domestic capabilities in a rapidly expanding industry.
MetaX's listing follows the impressive market debut of Moore Threads Technology Co., whose shares surged significantly, generating substantial investor interest in Chinese 'national champion' chip firms. With an IPO price of 104.66 yuan per share, MetaX begins trading with a market capitalization of $6 billion, representing a potentially attractive valuation compared to industry peers.
