Chinese AI circuit board maker soars on Hong Kong debut
Victory Giant Technology Huizhou, a Chinese AI circuit board maker, soared nearly 60% on its Hong Kong debut after raising over $2 billion. The company supplies Nvidia and aims to expand production in mainland China amid the country's efforts to boost domestic AI chip production.
Victory Giant Technology Huizhou, a Chinese tech firm, made its Hong Kong debut with shares surging 59.6% to HK$335. The company raised HK$17.3 billion ($2.2 billion), the city's largest listing this year. Victory Giant produces high-end printed circuit boards for AI servers and counts Nvidia among its key customers. The firm plans to use most of the proceeds to expand mainland China production. China's AI ambitions drive demand for domestic chip production, as US export rules restrict Nvidia's cutting-edge AI chip sales to China. Beijing is accelerating efforts to develop its own advanced semiconductors.
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