China AI chip firm Biren to launch Hong Kong IPO in coming weeks
BEIJING/HONG KONG: Chinese AI chip startup Biren Technology aims to launch a Hong Kong initial public offering in the coming weeks, four sources with knowledge of the matter said.
The IPO could raise $300 million, local Chinese media reported. One of the sources confirmed the number to Reuters.
The Shanghai-based company, along with other domestic rivals, is banking on rapid growth as China seeks to develop domestic alternatives to U.S. semiconductors amid stringent export restrictions by Washington on advanced chips.
