Shares of MetaX Integrated Circuits soared nearly sixfold in their first day of trading on the Shanghai stock market on Wednesday. The strong debut reflects China’s drive to accelerate the public listing of domestic AI chipmakers, as part of broader efforts to diminish reliance on major U.S. semiconductor companies such as Nvidia and AMD.
MetaX, established by Chen Weiliang—a former executive at AMD—generated approximately $600 million through its initial public offering last week. The company’s stock opened at 700 yuan per share, well above its IPO price of 104.66 yuan, and maintained close to that level during early session trading.
According to projections from Frost & Sullivan, AI chip sales within China are expected to climb to $189 billion by 2029, up from $54 billion forecast in 2026.
About MetaX
MetaX was founded in Shanghai in September 2020 and has established wholly-owned subsidiaries and R&D centers in Beijing, Nanjing, Chengdu, Hangzhou, Shenzhen, Wuhan and Changsha. It is a team with rich experience in technology, design and industrialization in mass production and delivery. The core team members have an average of nearly 20 years of end-to-end R&D experience in high-performance GPU products and have led the R&D of more than ten world mainstream high-performance GPU products in areas of GPU architecture definition, GPU IP design, GPU SOC design and GPU system solutions.
