Shanghai-based AI chip company Biren Technology is planning to raise about HK$4.04 billion, or roughly $515 million, through a new share sale, according to a Techub News brief citing Bloomberg Technology. The proceeds are intended to support the company’s artificial intelligence development plans. The move adds to a broader run of fundraising activity among Chinese AI companies, which the report said has remained active. While the brief did not disclose timing beyond saying the company is planning the offering, it identified the fundraising structure as a new round of stock issuance and gave both the Hong Kong dollar and U.S. dollar figures. Biren Technology has been named directly in the report, with Shanghai listed as the company’s base.
Shanghai-based Biren Technology plans to raise about HK$4.04 billion, or roughly $515 million, through a new share sale to support its artificial intelligence development plans.
According to Bloomberg Technology, the move extends the recent fundraising wave among Chinese AI companies.
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