Tech Showdown: US-Sanctioned Biren Technology, China’s Potential Challenger to Nvidia, Initiates IPO Tutoring Process

Technology Battle: Biren Technology, a Chinese AI chip competitor to Nvidia facing US sanctions, is preparing for an IPO

This Shanghai-based powerhouse, perceived as a potential rival to Nvidia within China, has initiated its educational journey towards an IPO.

Biren Technology, a start-up specializing in artificial intelligence (AI) chips and considered one of China's top contenders against Nvidia, has engaged an investment bank to start the necessary "tutoring" phase, a step towards launching an initial public offering (IPO) within the nation.

The unicorn company based in Shanghai, which had a valuation of US$2.19 billion last November as per Pitchbook, a venture deal tracking company, has appointed the city's top brokerage firm, Guotai Junan Securities. This appointment is to guide the company's executives on matters related to Initial Public Offering (IPO), as announced by the China Securities Regulatory Commission (CSRC) on Wednesday.

The coaching procedure, deemed compulsory for all those seeking an IPO in China prior to submitting their listing proposal, typically spans from three to 12 months. Neither Biren nor the CSRC has revealed the intended venue or the financial goal for the IPO.