Nvidia (NVDA) has long been the gold standard in AI chips. Now, according to a Bloomberg report, a growing group of Chinese chipmakers is heading to the IPO market to raise funds and gradually close the gap with Nvidia’s AI chips.
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Chinese semiconductor firms are moving quickly toward stock listings, driven by Beijing’s push for tech self-reliance and the global boom in AI. The momentum comes after two eye-catching IPO debuts in China, which showed strong investor appetite for homegrown chip champions that analysts say could one day rival Nvidia.
Earlier this month, Chinese AI chipmaker Moore Threads saw its shares jump 425% on their first day of trading in Shanghai. Soon after, the company unveiled a new graphics architecture called Huaguang, as part of its effort to compete with Nvidia and Advanced Micro (AMD).
That momentum was followed by a stunning 693% debut for MetaX Integrated Circuits, helping reopen the IPO window for other Chinese chip firms.
Hong Kong Emerges as the IPO Hub
Several Chinese AI chip companies are lining up to list in Hong Kong, which offers access to a broader base of global investors. One of the most closely watched is Biren Technology, often viewed as a leading domestic rival to Nvidia. Earlier this month, Biren filed for a Hong Kong IPO and is set to test investor demand for a deal that could raise about $600 million, even as it remains on a U.S. export blacklist.
Another name to watch is Kunlunxin, the AI chip arm of Baidu (BIDU). Kunlunxin, which designs chips for data-center servers, is reportedly valued at more than $3 billion and could also seek a Hong Kong listing.
More Nvidia Challengers Line Up
Others are close behind. Iluvatar CoreX is weighing a Hong Kong IPO that could raise $300–$400 million. Onshore, Enflame Technology is planning a STAR Market listing, while memory specialists like GigaDevice, Montage Technology, ChangXin Memory, and Yangtze Memory are also preparing IPO or secondary listing plans.
For investors, China’s chip push is clearly gaining pace, even if it remains uncertain whether any of these companies can truly rival Nvidia. Still, as competition grows, China’s domestic chip push could add long-term pressure on Nvidia, given the country’s importance to global AI demand.
Is Nvidia a Buy or Sell Stock?
According to TipRanks, NVDA stock has a Strong Buy consensus rating based on 40 Buys, one Hold, and one Sell assigned in the last three months. At $260.00, the Nvidia average share price target implies a 43.65% upside potential.
Year-to-date, NVDA stock has gained over 34%.
