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.

Unimicron is selling 50 million global depositary shares to raise as much as $1.4bn, riding investor appetite for suppliers tied to the AI chip boom.

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