Biren Technology, a Chinese AI GPU developer that rivals Nvidia, has hired an investment bank to prepare itself for an initial public offering (IPO), reports South China Morning Post. Biren, valued at $2.19 billion last November, has been looking forward to an IPO for over a year and appears to be nearing this milestone.
The fabless semiconductor designer has taken the first step toward an IPO by hiring Guotai Junan Securities for guidance through the necessary IPO preparation stage, which is required for all firms in China before listing. This 'tutoring' process typically takes from three to twelve months. Neither Biren nor the China Securities Regulatory Commission (CSRC) has shared details on where the IPO will occur or the expected fundraising target.
