Foreign media: On December 17, the Chinese GPU manufacturer MetaX (Muxi Co., Ltd.) made its debut on the Shanghai Science and Technology Innovation Board, with its stock price surging 569% on the first day of listing. The opening price was 700 yuan, significantly higher than the IPO issue price of 104.66 yuan. The stock reached a maximum intraday increase of 688%, with the price rising to 824.50 yuan.
MetaX is the second Chinese GPU company to go public this month, and its listing comes against the backdrop of China's push for self-sufficiency in semiconductors and the development of artificial intelligence. Despite the U.S. easing some export restrictions on NVIDIA, investors remain confident in the potential of domestic Chinese chips to replace imported ones and drive AI applications.
MetaX's IPO raised 4.2 billion yuan (approximately 596.3 million U.S. dollars), making it the fifth-largest IPO in mainland China this year. The company was founded in 2020 by three former AMD employees and plans to use the IPO funds for R&D of high-performance GPUs. Its products cover multiple areas, including AI inference, general computing, and graphics rendering.
Original article: toutiao.com/article/1851734136170508/
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