China's GPU Champion Biren Raises HK$7B (~$892.5M) in Hong Kong Share Sale to Fund Next-Gen GPU Mass Production — Stock Up 150%+ Since January IPO

Shanghai-based GPU maker Biren Technology is placing 153 million new shares at HK$46.2 each — a 9.9% discount to Friday's close — to raise HK$7 billion (~US$892.5M) in a Sunday-filed top-up. Biren says 60% of the proceeds will go to commercialization and mass production of its next-generation general-purpose GPUs to fulfil orders from Chinese cloud providers and AI data centers. Its Hong Kong-listed stock has surged more than 150% since the January IPO, and the raise cements Biren as one of the best-funded of China's would-be Nvidia challengers alongside Moore Threads and MetaX.