MetaX Integrated Circuits Shanghai Co., a Shanghai-based maker of graphics processing units (GPUs) for AI developers, said it plans to pursue a Hong Kong listing, according to a stock exchange filing.

The proposed offering would support growth and international expansion, subject to shareholder and regulatory approvals.

MetaX said it develops full-stack GPU chips and solutions, with four series covering AI training and inference, graphics rendering, and AI for science.

The company began trading in Shanghai in December after raising US$586 million. Its shares have climbed 564% since the initial public offering, giving it a market value of 278 billion yuan (US$41 billion).

Similar enthusiasm has lifted peers including Moore Threads, whose stock advanced 425% on its first trading day.

A Hong Kong H-share sale can diversify financing channels for companies already listed in mainland China. The plan also fits a broader industry trend, with Biren Technology and Iluvatar CoreX having filed for Hong Kong offerings.

The fundraising push comes as US curbs on advanced chip exports to China have helped spur domestic GPU development.

🔗 Source: Bloomberg

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