政府新闻
中国GPU制造商Iluvatar CoreX在香港上市首日股价大涨 2026-01-08
Shares of Iluvatar CoreX Semiconductor, a Chinese developer of graphics processing units, soared on their first day of trading in Hong Kong. The firm is the third of the so-called Shanghai GPU quartet to list within a month and the fourth Chinese GPU maker to go public in the past month.Iluvatar CoreX closed up 8.4 percent at HKD156.80 (USD20.12) on Thursday, after opening almost 32 percent higher.
Iluvatar CoreX raised about HKD3.7 billion (USD473.60 million) from its initial public offering. The proceeds will be used for the research, development, and commercialization of GPUs and related software, the development of artificial intelligence computing power solutions, sales, and marketing activities, as well as to bolster working capital.
Among the Shanghai GPU quartet, MetaX Integrated Circuits listed on the city’s Nasdaq-style Star Market on Dec. 17, while Biren Technology began trading in Hong Kong on Jan. 2. Suiyuan Technology is expected to seek a Star Market listing in the second half of this year. In addition, Beijing-based GPU developer Moore Threads Technology completed its Star Market IPO on Dec. 5.
The AI-driven surge in demand for computing power has created broad growth opportunities for Iluvatar CoreX, Yu Xuesong, its vice president of strategy and public relations, told Yicai. As China’s first company to independently develop general purpose GPUs, the firm has built a complete value chain spanning core technological breakthroughs through to commercial deployment, he said.
“Our R&D team comprises 480 professionals with an average of more than 20 years of industry experience, and over a third have more than a decade of experience in chip design and software development,” Yu said. “The team includes specialists in architecture, GPGPU internet protocol and design, foundational software, and hardware-software co-design, among other areas.”
Iluvatar CoreX mainly supplies GPGPUs along with supporting AI computing solutions. It is the first Chinese chip designer to achieve mass production of GPGPUs for both inference and training.
According to its listing prospectus, the firm had a net loss of CNY609 million (USD84.7 million) in the first half of last year on operating revenue of CNY324 million. Full-year operating income rose to CNY539 million, while the net loss widened to CNY892 million, with both figures growing since 2022.
Shanghai is home to more than 1,200 integrated circuit companies and accounts for roughly 40 percent of China’s chip industry talent and nearly half of its innovation resources. The city has fostered a group of leading companies across chip design, manufacturing, packaging and testing, equipment and materials, as well as electronic design automation and IP.
Beyond the GPU quartet, Shanghai entrepreneurs have also set up AI chip companies pursuing alternative technological paths such as optical computing and near-memory computing, an official with the city’s economy and informatization commission told Yicai.
Source: Yicai Global
