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Chinese AI chipmaker moves ahead with Hong Kong listing
Biren Technology plans a Hong Kong IPO targeting up to $623 million to fund AI chip development and expansion.
Biren Technology plans to raise up to $623 million through a Hong Kong initial public offering, offering nearly 248 million shares at a proposed price range of HK$16 to HK$26. The AI chipmaker aims to fund research and expansion as Chinese GPU firms seek capital amid ongoing US technology restrictions and heightened competition.