11 hours ago
- Business
- Wall Street Journal
Chinese AI Chipmakers Target $1.66 Billion in Onshore Listings
Two Chinese AI chip companies aim to raise a combined $1.66 billion through initial public offerings, as China steps up efforts to achieve chip independence amid an escalating U.S-China tech competition.
Beijing-based Moore Threads plans to raise 8 billion yuan, equivalent to $1.12 billion, while Shanghai-based MetaX is targeting 3.9 billion yuan, according to prospectuses filed Monday with the Shanghai Stock Exchange.
