appConfigEntityId

bodyType

customContents

entityId

entityUuid

isVideo

articlePageQuery

article

articleSchemaContent

content

hooksArticlePageAdvertisementConfigArticle

hooksArticlePageFloatingButtonConfigArticle

appConfig

filter

json

liveArticle

Wency Chen

MetaX, a Shanghai-based graphics processing unit (GPU) designer, said on Friday that it plans to pursue a Hong Kong listing, less than half a year after its debut on Shanghai’s technology-focused Star Market.
The company said in a filing that the proposed H-share offering would support its business expansion, strengthen corporate governance and competitiveness, and advance its international growth strategy.
MetaX plans to issue H shares equivalent to no more than 5 per cent of its enlarged share capital following the offering, before any overallotment option is exercised.
The proceeds would be used to fund next-generation GPU research and development, commercialisation efforts, software ecosystem expansion, supply-chain investments, and potential acquisitions and strategic investments, according to the filing.
Details including the size, pricing and timing of the offering have yet to be finalised. The proposal remains subject to shareholder approval at an extraordinary general meeting scheduled for June 29.

Founded in 2020, MetaX has emerged as one of China’s most closely watched GPU start-ups. The company has attracted investor interest in part because its founding team includes former AMD executives, as Beijing pushes to develop domestic alternatives to Nvidia’s AI chips amid tightening US export restrictions.
Its Star Market listing last year was also closely watched as a test case for China’s support of loss-making hard-tech companies, coming amid a broader wave of AI chip fundraising by peers such as Moore Threads and Biren Technology.
MetaX priced its Shanghai IPO at 104.66 yuan per share. The stock soared on its trading debut, at one point reaching 895 yuan, and closed at 695 yuan on Friday, valuing the company at about 278 billion yuan (US$38.7 billion).
The company reported first-quarter revenue of 562 million yuan, up 75.4 per cent from a year earlier, while its net loss narrowed to 99 million yuan from 233 million yuan.
MetaX’s flagship product is the C600 general-purpose GPU, designed for both AI training and inference workloads. The company expects mass production and commercial shipments to begin in the first half of this year. In January, it also unveiled its X-series chips aimed at AI for Science (AI4S) applications.


Rare honour: Trump will greet Xi at Joint Base Andrews, not just White House

President Xi’s industrial power play sees China bet big on AI, chips and smarter factories

Once reliant on Samsung and SK Hynix, Chinese smartphone makers are turning to CXMT

Huawei quickens AI chip pace, promises next entrant 3 quarters early

Semiconductors

China’s Nvidia challenger MetaX eyes Hong Kong share sale to fund AI ambitions

MetaX said the proceeds of a Hong Kong listing would be used to fund next-generation GPU research and strategic investments. Photo: Shutterstock

The details of a Hong Kong listing for MetaX, including the size, pricing and timing of the offering, have yet to be finalised. Photo: Jelly Tse

Biren, Iluvatar CoreX post triple-digit revenue growth but losses persist in AI chip race

The Biren Technology BR100 GPU chip. Photo: Handout

In this picture illustration the Iluvatar CoreX logo is displayed on a smartphone screen. Photo: Shutterstock Images 

This photo taken on December 25, 2024 shows an employee inspecting a silicon wafer at a factory in Binzhou, in eastern China’s Shandong province. Photo: AFP

Will Chinese AI chip designer Enflame’s Shanghai IPO be another blockbuster?

AI chip designer Enflame on Wednesday entered the inquiry stage of its initial public offering on Shanghai’s Star Market. Photo: Handout

Star Market is China’s Nasdaq-style tech board. Photo: Reuters

Enflame chairman and CEO Zhao Lidong pictured in December 2019. Photo: Handout

China’s robotics sector will need 5 years to reach its ‘EV moment’, MetaX investor says

Sean Xiang, Hermitage Capital’s founder and CEO, photographed at his office in Central, Hong Kong. Photo: Yik Yeung-man

UBtech’s Walker S1 industrial humanoid robot was launched in June last year. Photo: Xinhua

Hermitage CEO Sean Xiang (left) and Hermitage president Zhang Menghan at the listing ceremony for MetaX. Photo: Handout

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

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

MetaX was founded in 2020 by former AMD employees. Photo: Handout

MetaX set for Shanghai debut amid market frenzy over AI chip stocks, Nvidia uncertainty

MetaX Integrated Circuits’ C500 graphics processing unit is designed for AI and high-performance computing applications. Photo: Handout

Shanghai’s Nasdaq-style Star Market this week sees the trading debut of another Chinese AI chip designer, MetaX, after Moore Threads Technology earlier this month. Photo: Reuters

Tech

Shanghai-listed AI chipmaker plans H-share sale to fund next-generation GPU development, supply-chain investment and global expansion


Shanghai-listed AI chipmaker plans H-share sale to fund next-generation GPU development, supply-chain investment and global expansion.


China’s Nvidia challenger MetaX eyes Hong Kong share sale to fund AI ambitions

.css-1c6uqr6{color:inherit;font-weight:inherit;font-size:inherit;font-family:inherit;line-height:inherit;overflow-wrap:break-word;}Shanghai-listed AI chipmaker plans H-share sale to fund next-generation GPU development, supply-chain investment and global expansion

Shanghai-listed AI chipmaker plans H-share sale to fund next-generation GPU development, supply-chain investment and global expansion