Biren Surveys Investors for $1 Billion, Two Months After First Offering

The Chinese AI chip designer is preparing a new lifting in Hong Kong as soon as the lock-up period agreed in July expires in early October.

Banks began testing investors' appetite for a share placement of about $1 billion — some HK$7.8 billion — to Shanghai Biren Technology, one of China's leading designers of chips for artificial intelligence, on September 15, 2026. The amount and structure of the deal have not been decided.

The timing is not fortuitous. In July, Biren had already raised HK$7.07 billion by placing 153 million H shares at HK$46.2 each, pledging not to issue shares for ninety days. This lock falls at the beginning of October.

The stock remains down about 7% since the January 2026 IPO, despite a remarkable start. The operation is part of a series of rounds of fundraising led by Chinese AI groups seeking to finance their computational race, such as the HK$39 billion raised by Z.AI between investment and convertible bonds.