Chinese chip designer Kiwimoore has confidentially filed for a Hong Kong initial public offering, targeting a valuation of about $2 billion, according to sources.
Kiwimoore, founded in early 2021, makes networking technology used to link artificial-intelligence accelerators inside computing clusters. The company has positioned itself to capitalize on Beijing’s push to build a self-sufficient AI chip supply chain after the U.S. restricted exports of advanced technologies, including chips, to China.
The company raised about 700 million yuan ($103.79 million) in a July funding round with a valuation of 8 billion yuan, said one of the people. Kiwimoore has tapped CITIC Securities and ABC International to lead its Hong Kong IPO.
Original reporting: Appleton, WI News Feed (HLL/CB) — read the source article.
