Chinese AI chipmaker Biren Technology is raising approximately HK$7 billion (US$892.5 million) by issuing 153 million new shares. The offering price of HK$46.2 represents a nearly 10% discount to the stock’s last closing price. The company’s stock has surged over 150% since its Hong Kong IPO in January 2026.
Biren will allocate 60% of the proceeds to the mass production and commercialization of its next-generation GPUs. Research and development of new technologies will receive 20% of the capital infusion. The remaining funds will support strategic investments and general working capital.
This move aims to meet surging demand from Chinese AI data centers and cloud service providers. The expansion intensifies Biren's efforts to compete directly with industry leader Nvidia.