PE-backed Cambricon becomes China's first listed AI chip maker
Beijing-based Cambricon Technology, which is backed by CICC Capital, Alibaba Group, and Lenovo, has listed on the Star Market. It is the first Chinese artificial intelligence (AI) chip manufacturer to complete an IPO.
Cambricon raised RMB2.58 billion ($369 million) through its offering, selling 40.1 million shares at RMB64.39 apiece. The stock opened at RMB250 on its first day of trading on the Star Market - formally...
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