Chinese AI Chip Firms Plan $1.65 Billion IPOs Amid US Export Curbs

Two Chinese AI chip startups, Moore Threads and MetaX, plan to raise a combined $1.65 billion through IPOs on Shanghai's STAR Market, aiming to leverage rising domestic demand driven by US export restrictions on advanced GPUs. Both firms acknowledge that US sanctions, including a ban on Nvidia's H20 chips and restrictions on access to advanced foundries like TSMC, pose significant risks but also create critical opportunities by accelerating China's push for domestic GPU development. Despite heavy losses due to substantial R&D investments, these companies are positioned to benefit from Beijing's strategic focus on nurturing local chip champions essential for AI advancement. Their IPOs reflect growing investor confidence and support China's broader initiative to achieve semiconductor self-sufficiency amid tightening global tech supply chains. The move highlights a shift in the global semiconductor landscape, as Chinese firms seek to reduce dependency on foreign technologies and build competitive capabilities in high-end AI chips. These developments underscore the interplay between geopolitical pressures and technological innovation shaping the future of the AI chip sector.