On the first day of trading…Chinese “MetaX” chip shares jump 700%
Company shares jumped "Meta x" The Chinese chip maker rose 700% on its first day of trading on the Shanghai Stock Exchange, as the Chinese company benefited from the momentum of Beijing’s efforts to reduce dependence on chips from American companies such as "NVIDIA" and"AMD".
And collected "Meta x"founded by former executives of "AMD"raised nearly $600 million in an initial public offering last week, days after its larger rival went public "More Threads" Its shares jumped by 400% following the official offering.
Opened Sharecompany "Meta x" It traded on the Shanghai Stock Exchange at 700 yuan per share, against the initial offering price of 104.66 yuan, before rising to 895 yuan, overcoming persistent concerns about the artificial intelligence bubble in other markets. The stock ended the trading session at 829.9 yuan, an increase of 693%.
This comes at a time when chip manufacturers Artificial Intelligence to sell their shares in China to take advantage of interest generated by a government campaign to boost domestic production in competition with the United States.
The research firm expected "Frost & Sullivan" To exceed sales of artificial intelligence chips in China$189 billion by 2029 compared to $54 billion in 2026.
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