Biren AI chip IPO raises $717m as Hong Kong listing soars

Shanghai Biren Technology raised about US$717 million in its Hong Kong IPO and saw its shares jump around 76% on the first day of trading on January 2, 2026. The GPU-focused AI chipmaker became the first listing of 2026 on the Hong Kong exchange, with the retail tranche reportedly oversubscribed more than 2,300 times.