Chinese AI chipmaker Biren Technology is raising another HK$4.04 billion ($520 million) through a share placement, its second in three months. Including its January IPO, the company has raised nearly HK$17 billion in less than a year.
Biren will sell 130 million shares at HK$31.08 each, a 33% discount to its July placement price. The latest funds will mainly support supply-chain purchases and production preparation for its next-generation BR20X chip.
Biren says suppliers are raising prices and extending delivery times, while customers are demanding greater assurance that it can fulfill large orders. About 70% of the new proceeds will go toward supply-chain procurement and commercialization.
The company’s revenue surged in the first half of 2026 and its losses narrowed, but its shares fell 11.85% on October 8 after the announcement.