CryptoCurrency
Chinese ‘Little Dragon’ AI Startup Takes Flight on Trading Debut
A Chinese startup dubbed one of the country’s “four little dragons” in artificial intelligence has notched a blockbuster stock-market debut.
Shares in MetaX Integrated Circuits jumped almost eightfold on their first day of trading in Shanghai, lifting its market value to the equivalent of about $48 billion. It had raised nearly $600 million through an initial public offering.
Chinese AI chip startups have rushed to tap capital markets for funding as Beijing has made technological self-sufficiency a top priority, following U.S. efforts to limit China’s access to cutting-edge technology.
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