Biren Technology Embarks on IPO Path Amid US Trade Sanctions

Biren Technology, a Chinese artificial intelligence (AI) chip developer seen as a potential rival to industry leader NVIDIA (NASDAQ:NVDA), is making preparations for an initial public offering (IPO).

The South China Morning Post reported that the Shanghai-based company has recently begun the IPO process by enlisting the services of Guotai Junan Securities, one of the largest brokerage firms in China.

The IPO preparations, referred to as the “tutoring” process, are mandatory for companies in China before they file for a public listing. The news outlet notes that this phase typically lasts between three and 12 months, depending on the complexity of the company’s business and its compliance with regulatory requirements.

Biren Technology was founded in 2019 by Zhang Wen, a veteran of the semiconductor industry, and has positioned itself as a leader in the production of graphics processing units (GPUs) designed for AI applications.

The company launched its first high-performance chip, the BR100, in 2022. The BR100 made waves, particularly in the US, over claims it had broken computing power records. However, the chip is no longer listed on Biren’s website, and its current product lineup focuses on the Bili series of GPUs, which are now in mass production.

Biren is one of several Chinese companies attempting to fill the gap left by NVIDIA and Advanced Micro Devices (NASDAQ:AMD), which are barred from selling their most advanced chips to Chinese firms due to US export controls.

Reports show that the firm has secured more than US$780 million across eight funding rounds, with a significant portion of this money coming from venture capital firm HongShan (formerly Sequoia China).

Don’t forget to follow us @INN_Technology for real-time news updates!

Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.