GigaDevice Surges 54% in Hong Kong IPO, Boosting China's AI Semiconductor Ambitions

• GigaDevice Semiconductor Inc. shares surged 54% to HK$248.80 on its Hong Kong debut, raising HK$4.68 billion ($600 million).
• The IPO was 542 times subscribed, indicating strong investor interest in Chinese AI-related firms.
• GigaDevice specializes in niche memory chips, including NOR Flash memory for automotive and industrial use, and micro control modules.
• The listing aligns with Beijing's strategy to bolster domestic tech rivals to companies like Micron Technology Inc. and Nvidia Corp.
• The company reported a profit of 588 million yuan in the first half of 2025, a 14% increase.

Why It Matters: GigaDevice's successful Hong Kong IPO highlights surging investor confidence in China's semiconductor sector.