Chinese AI chipmaker MetaX shares jump nearly 600% in market debut [Yahoo! Finance]
Advanced Micro Devices, Inc. (AMD)
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Source: Yahoo! Finance
by homegrown AI chipmakers to reduce reliance on U.S. ?majors Nvidia and Advanced Micro Devices. MetaX, founded by former AMD executive Chen Weiliang, raised roughly $600 million in an IPO last week. Its listing comes ?on the heels ?of a stellar debut by bigger rival Moore Threads earlier this month. MetaX ?shares opened at 700 yuan apiece versus an IPO price of 104.66 yuan, and hovered around that level ?in early trading. Chinese makers of artificial intelligence ?chips are rushing to sell shares publicly, capitalising on a government drive to boost local chip production amid rivalry with the U.S., though some investors have expressed concern about stretched valuation. "AI and semiconductors are ?key areas of competition in ?the Sino-U.S. tech rivalry," ?Guotai Haitong Securities said in a report. "Against the backdrop of geopolitical tension, AI chipmaking ?has huge ?growth potential" as China seeks to achieve self-sufficiency. Research firm Frost & Sullivan forecasts AI
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