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MetaX Shares Soar 700% in Shanghai Debut as China Bets on AI Chip Independence
MetaX Shares Soar 700% in Shanghai Debut as China Bets on AI Chip Independence
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BTCCSquare news:
MetaX Integrated Circuits stunned markets with a 693% first-day pop, closing at 829.9 yuan after pricing its IPO at 104.66 yuan. The AMD-spinoff's $600 million offering was oversubscribed 4,000x by retail investors, catapulting its valuation to $42 billion despite holding just 1% of China's AI chip market.
The frenzy follows Moore Threads' 400% November debut and coincides with Beijing's campaign to replace U.S. chips. Domestic rivals Biren Technology and Kunlunxin now race toward IPOs as state capital floods semiconductor startups.
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