AI Chip Stock Biren Technology Soars 82% on Hong Kong Debut, 2,300x Oversubscribed IPO

• Shanghai Biren Technology Co. stock surged 82% on its Hong Kong listing, trading at HK$35.7 against an IPO price of HK$19.6.
• The AI chip designer raised $717 million via its IPO, attracting 2,300 times more retail subscriptions than available shares.
• Biren Technology develops GPUs for AI models and is the first GPU-focused stock to list in Hong Kong, enjoying "scarcity value."
• Its strong debut reflects the global AI boom and China's support for homegrown tech, following similar surges by MetaX and Moore Threads.
• Founded in 2019, Biren plans to use IPO proceeds for R&D, despite reporting a $228.9 million net loss in H1.

Why It Matters: AI chip stock Biren Technology nearly doubled on its Hong Kong debut, fueled by massive retail interest.