MetaX Shares Surge 700% On Shanghai Debut.

Shares of Chinese chipmaker MetaX Integrated Circuits surged nearly 700% on their first day of trading in Shanghai. The company raised close to $600 million through its IPO.
MetaX shares were priced at 104.66 yuan during the IPO and closed at 829 yuan, marking a massive 692% rise on debut.

MetaX makes graphics processing units (GPUs) used for artificial intelligence (AI). The strong debut shows growing investor interest in AI-related companies, especially in China.
The company is part of a new wave of Chinese chipmakers trying to build local alternatives to Nvidia, after the U.S. imposed restrictions on exporting advanced AI chips to China.

Washington’s curbs have blocked Nvidia from selling its top AI chips to Chinese buyers. As a result, Chinese firms like MetaX, Moore Threads, Biren Technology, and Enflame Technology are stepping in to meet demand.
Earlier this month, Moore Threads, often called “China’s Nvidia,” saw its shares rise over 400% after a successful Shanghai listing.

Analysts say investor excitement around these IPOs is driven by two main reasons: China’s goal of becoming self-sufficient in semiconductors and the strong growth potential of AI chipmakers.
Macquarie analyst Eugene Hsiao said investors believe companies like MetaX are key to building China’s own chip ecosystem, especially as tensions with the U.S. continue.