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MetaX shares rocket 700% in debut as China AI chips push gathers speed
MetaX's shares surged 569% on debut after raising 4.2 billion yuan, reflecting strong investor demand amid China's semiconductor self-sufficiency push, data shows.
- Shares of Chinese chipmaker MetaX Integrated Circuits soared over 700% in their market debut in Shanghai on Wednesday after the company raised nearly $600 million in its initial public offering .
- MetaX develops graphics processing units for artificial intelligence applications, tapping into a fast-growing sector driven by China's push to reduce dependence on U.S. chips amidst Washington's tech export curbs.
- MetaX's robust debut follows that of local rival Moore Threads, reflecting investor enthusiasm for China's ambitions in using domestically made chips to power AI applications and services.
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13 Articles
13 Articles
MetaX shares rocket 700% in debut as China AI chips push gathers speed
MetaX Integrated Circuits shares jumped 700% on their market debut on Wednesday, as investors sought to benefit from a government push to reduce reliance on AI chips from U.S. majors Nvidia and Advanced Micro Devices .
·United Kingdom
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Total News Sources13
Leaning Left1Leaning Right3Center4Last UpdatedBias Distribution50% Center
Bias Distribution
- 50% of the sources are Center
50% Center
13%
C 50%
R 37%
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