Chinese artificial intelligence chip startup Biren Technology is planning to launch its initial public offering (IPO) on the Hong Kong Stock Exchange within the coming weeks, according to people familiar with the matter. The offering is expected to raise around $300 million, reflecting investor interest in China’s booming AI semiconductor market.
Biren, founded in 2019 by former AI and telecommunications executives, has developed advanced AI chips that compete with global products and has become a notable player in China’s domestic semiconductor push. The company’s IPO would involve the issuance of new shares as well as the conversion of existing shares for listing in Hong Kong.
This move comes amid a broader wave of technology listings and renewed investor enthusiasm for Chinese tech firms in public markets. The Hong Kong stock market has seen strong interest, with other companies in tech and digital assets also moving forward with IPOs.
Biren’s planned listing is part of China’s strategic drive to build homegrown semiconductor capabilities in AI technology, particularly as global export restrictions challenge companies’ access to foreign manufacturing and design resources.
