Chinese semiconductor and AI chip companies are pushing ahead with capitalization and expansion plans, tapping capital markets to finance research, production and global competitiveness. A number of domestic firms, including MetaX and Biren Technology, have already completed successful initial public offerings in 2025, with share prices in some cases surging by several hundred percent after listing. MetaX rose by as much as 693 percent on the Shanghai market, while Biren Technology recorded a gain of around 76 percent at its Hong Kong debut. “Numerous IPOs – China’s Nvidia rivals pick up the pace,” Handelsblatt wrote of the latest developments.
This wave of financing is accompanied by further IPO preparations and filings. Kunlunxin, the AI chip subsidiary of technology group Baidu, has submitted an application for a Hong Kong listing, a move that significantly boosted Baidu’s share price. In addition, memory manufacturer ChangXin Memory Technologies (CXMT) is planning to raise around 29.5 billion yuan, equivalent to approximately 3.8 billion euros, through a Shanghai listing to finance the expansion of its DRAM production capacity.
The momentum is unfolding against the backdrop of ongoing geopolitical tensions and technological restrictions. US sanctions and export controls on high-performance chips have prompted Chinese companies and state support programs to strengthen domestic production and make greater use of external financing. Analysts view capital markets as a key instrument for implementing Beijing’s technology and self-sufficiency objectives. Investor interest and strong price gains also reflect speculative expectations regarding China’s future role in the global AI chip market, which is still dominated by US suppliers such as Nvidia.
China’s focus on IPOs and capital raising shows that the sector continues to expand despite technological challenges and international pressure, and is seeking to gain a stronger foothold in the global semiconductor landscape.
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