Shanghai Iluvatar CoreX Semiconductor plans an $800M share sale in Hong Kong, nearly doubling its public market fundraising as demand for Chinese AI chips

Shanghai Iluvatar CoreX Semiconductor plans an $800M share sale in Hong Kong, nearly doubling its public market fundraising as demand for Chinese AI chips

Shanghai Iluvatar CoreX plans to raise $850M in a Hong Kong secondary share sale after its stock surged 428% since its January 2026 IPO.

Shanghai chipmaker Iluvatar CoreX is seeking about $850m in a share sale after a rally that has more than tripled its stock, riding China’s homegrown AI-silicon push.

GLM-5.2 model developer Zhipu AI is seeking to raise HK$31.4 billion, while chipmaker Iluvatar CoreX is targeting HK$7.1 billion.