SINGAPORE/HONG KONG: Shares of Chinese AI chip designer Shanghai Biren Technology more than doubled on their Hong Kong debut on Friday, kicking off the financial hub's first listing of 2026 with a bang. Biren will spend most of the IPO proceeds on research and development and commercialisation, its IPO prospectus showed. Separately, Chinese internet search leader Baidu said on Friday its AI chip unit Kunlunxin has filed a Hong Kong IPO application, confirming a Reuters report in early December. Hong Kong's IPO pipeline includes AI startups and chipmakers, with Zhipu AI and Iluvatar CoreX to debut next on January 8. "Is the HK AI IPO boom sustainable?

Source: New Strait Times January 02, 2026 05:39 UTC