Zhang Wen

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China's $300 billion chip independence gamble

Chairman and CEO of publicly-listed Biren Technology following successful $717M Hong Kong IPO

Biren Technology's shares surged 76% on January 2, 2026, raising $717 million in Hong Kong—the first GPU chipmaker to list this year. Despite losing $1.6 billion annually and facing US export bans, investors oversubscribed 2,348 times; rivals Moore Threads and MetaX followed with Shanghai IPOs that surged 400% and 700%.

Updated May 19

Notable Quotes

"We are committed to providing high-performance computing power solutions for China's AI development" - Zhang Wen at Biren's IPO listing ceremony

from China's $300 billion chip independence gamble · Updated May 19

"Becoming a public company marks a stronger beginning for Biren—and brings greater responsibility. Going forward, we will continue to increase R&D investment, accelerate the development of our fully independent and controllable product stack, and help build a robust, domestic computing ecosystem" - Statement at Hong Kong listing ceremony, January 2, 2026

from China's $300 billion chip independence gamble · Updated May 19