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Stockreport

China AI chip firm Biren raises $717 million in Hong Kong IPO [Yahoo! Finance]

QUALCOMM Incorporated (QCOM)  More Company Research Source: Yahoo! Finance
Last qualcomm incorporated earnings: 4/29 04:01 pm Check Earnings Report
US:NASDAQ Investor Relations: qualcomm.com/info/investor-relations
The semiconductor designer set the offer price ?at HK$19.60 apiece, the top end of the marketed range. It offered 284.8 million shares in the IPO. Institutional investor demand for Biren's IPO was nearly 26 times the shares ?on offer, while ?the retail tranche was oversubscribed about 2,348 times, the filing showed. Shanghai-based Biren's IPO follows successful ?offerings from industry peers Moore Threads and MetaX as China seeks to develop domestic alternatives to U.S. semiconductors amid stringent ?export restrictions by Washington on advanced chips. Founded in 2019, ?Biren's co-founders include Zhang Wen, formerly the president of AI face-recognition company SenseTime, and Jiao Guofang, who previously worked at Qualcomm and Huawei. The company initially drew attention in 2022 when it unveiled its first batch of products, ?including its BR100 chip, which ?it claimed could match the performance ?of Nvidia 's advanced H100 AI processor. Hong Kong has raised $36.5 billion fr [Read more]
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Stockreport

China AI chip firm Biren raises $717 million in Hong Kong IPO [Yahoo! Finance]

QUALCOMM Incorporated  (QCOM) 
More Company Research Source: Yahoo! Finance
Last qualcomm incorporated earnings: 4/29 04:01 pm Check Earnings Report
US:NASDAQ Investor Relations: qualcomm.com/info/investor-relations
The semiconductor designer set the offer price ?at HK$19.60 apiece, the top end of the marketed range. It offered 284.8 million shares in the IPO. Institutional investor demand for Biren's IPO was nearly 26 times the shares ?on offer, while ?the retail tranche was oversubscribed about 2,348 times, the filing showed. Shanghai-based Biren's IPO follows successful ?offerings from industry peers Moore Threads and MetaX as China seeks to develop domestic alternatives to U.S. semiconductors amid stringent ?export restrictions by Washington on advanced chips. Founded in 2019, ?Biren's co-founders include Zhang Wen, formerly the president of AI face-recognition company SenseTime, and Jiao Guofang, who previously worked at Qualcomm and Huawei. The company initially drew attention in 2022 when it unveiled its first batch of products, ?including its BR100 chip, which ?it claimed could match the performance ?of Nvidia 's advanced H100 AI processor. Hong Kong has raised $36.5 billion fr [Read more]
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