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MetaX soars nearly 700% in debut as traders snap up second Chinese GPU maker to go public

MetaX closes at 829.90 yuan on Wednesday, from its IPO price of 104.66 yuan, after gaining as much as 755 per cent in intraday trading

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People learn about the AI computing power cabinet equipped with MetaX C600 general-purpose GPU chip at the 2025 World Artificial Intelligence Conference in Shanghai. Photo: Getty
Zhang Shidongin Shanghai
MetaX Integrated Circuits soared on its trading debut in Shanghai as investors piled into the second Chinese producer of graphics processing units (GPUs) to go public this month amid optimism about China’s push for self-sufficiency in semiconductors and artificial intelligence.

The shares of the Shanghai-based company surged 693 per cent from the offer price to 829.90 yuan at the close on Wednesday on the technology-heavy Star Market, making the five-year-old company the third-best performing debut on the mainland’s stock exchanges this year. They once surged by as much as 755 per cent to an intraday high of 895 yuan after opening 569 per cent higher than the offer price of 104.66 yuan.

The frenzy for MetaX underscores investors’ reaction to China’s ambitions in using domestically made chips to replace imports for powering AI applications and services, even after the US government relaxed some of the export restrictions on Nvidia. Less than two weeks ago, Moore Threads Technology, a local rival of MetaX that has been dubbed “China’s little Nvidia,” soared 425 per cent on its Shanghai trading debut.

“The company is one of the leading manufacturers of high-performance GPU products in China,” said Li Hui, an analyst at Huajin Securities. “It’s expected to fully benefit from the ongoing progress on the domestic substitution.”

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