Chinese GPU Unicorn Biren Technology Reportedly Planning $300M Hong Kong IPO

Shanghai-based AI chipmaker Biren Technology (壁仞科技) is reportedly preparing for a major IPO in Hong Kong, with plans to raise approximately $300 million, according to sources cited by Sina Finance on April 9. The listing, which could take place as early as this year, would mark a significant milestone for China’s domestic semiconductor ecosystem as the country pushes to reduce its reliance on foreign chips.

Founded in 2019, Biren specializes in general-purpose GPUs (GPGPUs) designed for AI computing, large-scale data processing, and cloud workloads. The company’s flagship chip, the BR100, was once touted as a domestic rival to NVIDIA’s A100 — a chip that is now restricted for export to China due to U.S. sanctions.

According to the report, Biren has already tapped investment banks including CICC, CMB International, and Ping An Securities to handle the IPO. While final details and timing remain subject to regulatory approval, the move comes amid growing investor interest in China’s AI hardware startups as generative AI adoption surges across the country.

Biren had been hit hard by U.S. export restrictions in late 2022, which blocked access to TSMC’s most advanced manufacturing services. Since then, the company has pivoted toward domestically sourced semiconductor processes and has continued to develop next-generation AI chips tailored for the Chinese market.

An IPO would not only inject fresh capital into Biren’s R&D efforts but also send a strong signal about the viability of Chinese alternatives in high-performance computing — particularly as the country races to build out sovereign AI infrastructure.

If successful, the Biren IPO could become one of the largest public offerings by a Chinese chip company since SMIC’s dual listing in 2020.