Lightelligence jumps 400% in Hong Kong debut amid AI-driven demand for photonics chips

Shanghai-based firm’s IPO reflects mainland China’s push for photonics chips as a fast-growing alternative to conventional semiconductors

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Lightelligence says it is the first company to achieve large-scale deployment of hybrid optical-electronic computing globally. Photo: Handout

Ann Caoin Shanghai

Published: 10:03am, 28 Apr 2026Updated: 5:29pm, 28 Apr 2026

Lightelligence, the first mainland Chinese photonics chipmaker to go public in Hong Kong, saw its share price surge by nearly 400 per cent in its trading debut on Tuesday, as investors banked on the country’s quest for a fast-growing alternative to conventional electronic semiconductors in artificial intelligence data centres.

The Shanghai-based company opened at HK$880, versus the offer price of HK$183.20 – the top of its marketed range of HK$166.60 to HK$183.20. It raised HK$2.4 billion (US$306 million) in its initial public offering (IPO). The stock closed at HK$886, valuing the company at HK$81.5 billion.

On the grey market on Monday, its shares surged 353 to 380 per cent on major brokerage platforms in the city, after the retail tranche was oversubscribed 5,784.7 times during the share sale period.

Its debut underscores how the country’s makers of photonics chips – once confined to scientific research – are capitalising on the surging global demand for AI workloads to step up production and commercialisation.

Unlike conventional graphics processing units (GPUs) that rely on electrons moving through silicon, optical computing chips use photons to carry out computations and data transmission.

China’s makers of photonics chips are capitalising on the surging global demand for AI workloads. Photo: Shutterstock

Founded in 2017 by Massachusetts Institute of Technology-trained scientist Shen Yichen, Lightelligence said it was the first company to achieve large-scale deployment of hybrid optical-electronic computing globally.

Lightelligence jumps 400% in Hong Kong debut amid AI-driven demand for photonics chips

.css-1c6uqr6{color:inherit;font-weight:inherit;font-size:inherit;font-family:inherit;line-height:inherit;overflow-wrap:break-word;}Shanghai-based firm’s IPO reflects mainland China’s push for photonics chips as a fast-growing alternative to conventional semiconductors

Shanghai-based firm’s IPO reflects mainland China’s push for photonics chips as a fast-growing alternative to conventional semiconductors