Human
HONG KONG: Chinese AI chipmaker Biren Technology is poised to make its public market debut in Hong Kong in the coming weeks, aiming to raise about $300 million in an initial public offering that underscores Beijing's drive to build domestic alternatives to U.S. semiconductor technology.
The Shanghai-based company, founded in 2019 by veteran tech executives including ex-SenseTime president Zhang Wen, is targeting a listing on the Hong Kong Stock Exchange as early as this month, according to people familiar with the matter. Biren plans to issue up to 372.5 million new shares, with existing holders converting 873.3 million onshore shares for trading in Hong Kong.
The IPO could value the company around $300 million, local Chinese media reported, and follows a fresh funding round in 2025 that raised about 1.5 billion yuan (roughly $207-$209 million) from state-linked investors, positioning Biren for growth amid rising demand for AI hardware.
Biren gained early attention with its BR100 graphics processing unit, pitched as a rival to advanced Nvidia chips. But the company faced significant hurdles after being placed on the U.S. Entity List in 2023, curtailing access to leading chip manufacturers and complicating production.
The IPO comes as China accelerates investment in semiconductor self-sufficiency, with a wave of tech firms choosing Hong Kong listings over mainland exchanges due to regulatory advantages for loss-making firms and broader investor access. If successful, Biren's listing could further cement Hong Kong as a hub for capital raising by Chinese tech startups navigating complex global trade and regulatory dynamics.
