Shares of Chinese chipmaker MetaX soar over 500% in Shanghai debut
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Shares of Chinese chipmaker MetaX Integrated Circuits Shanghai soared more than 500% on their market debut Wednesday, after the company raised nearly $600 million in its initial public offering.Shares, which were priced at 104.66 yuan in the IPO, surged to over 692 during its debut, marking a 561% jump.Similar to Moore Threads, which saw a robust debut at the start of the month, MetaX develops graphics processing units for artificial intelligence applications, tapping into a fast-growing sector driven by rising adoption of AI services.This is breaking news. Please check back for more.Got a confidential news tip? We want to hear from you.Sign up for free newsletters and get more CNBC delivered to your inboxGet this delivered to your inbox, and more info about our products and services.© 2025 Versant Media, LLC.
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