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Stock impact report

Chinese AI chipmaker Axera Semiconductor to raise $379 million via Hong Kong IPO [Yahoo! Finance]

TENCENT HLDGS UNSP/ADR (TCEHY) 
NASDAQ:AMEX Investor Relations: tencent.com/en-us/investor.html
Company Research Source: Yahoo! Finance
The proceeds are earmarked ?for upgrading its technology platform and developing new products, as well as sales expansion, potential equity ?investments or acquisitions and working capital and general corporate purposes, the filing said. Axera, formerly Shanghai Zhiaixin Semiconductor Technology, is backed by investors including Qiming Venture Partners and Tencent, is offering 104.9 million shares at HK$28.20 each, according to the filing. Cornerstone ?investors for the offering include ?OmniVision Integrated Circuits' unit WILL semiconductor and JSC International Investment Fund SPC. Axera's IPO comes at a time when Chinese AI ?and semiconductor firms are increasingly turning to Hong Kong to fund capital intensive chip development and broaden commercial adoption, as demand grows for "AI inference", the running of models trained ?to recognise patterns and make decisions, to shift from cloud servers onto ?devices such as cameras, industrial equipment and cars. Founded in 2019, Show less Read more
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