Cambricon Prices Its Star Market IPO at CNY 64.39 Apiece
...and plans to raise nearly CNY 2.6 billion in what is deemed 'China's first AI chip public offering.'
Cambricon (688256:SH), a Beijing-based chip designer focusing on the research and development of AI accelerators for cloud, edge and terminal application scenarios, set the IPO issue price at CNY 64.39 per share on July 6.
Strategic placement investors include CITIC Securities, Lenovo, Midea Holdings, OPPO Mobile and China Securities Investment.
It shows that the market is paying attention and is optimistic about 'China's first AI chip public offering.' But after going public in the Star Market, Cambricon will still face many challenges, like finding a substitute as big as Huawei and making profits in the conditions that are seeing terminal device providers trying to develop their own chips (read about these and other challenges in our latest article).