Gaming PC

Chinese GPU Firm Biren Plans IPO to Better Compete Against Nvidia

Chinese computing GPU developer Biren is considering an initial public offering (IPO) in Hong Kong this year. That’s because domestic customers are increasingly preferring the company’s AI chips to Nvidia’s, which is expensive and in short supply, Bloomberg reports. Hoping to seize this opportunity, tech start-ups are poised to capitalize on the increased demand for their products.

Citing unnamed sources, the report said Biren plans to file for its first stake sale in the coming weeks. At the same time, Biren is in talks with potential investors, including a government-backed fund in Guangzhou. These discussions focus on another independent funding round that could bring in about 2 billion yuan ($279 million). Biren was looking to raise a valuation of 17 billion yuan (about $2.4 billion) last year. As of now, Biren has yet to determine the scope and exact duration of his IPO.

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