Chinese Chipmakers Race to IPO After Back-to-Back Listings Surge

Chinese chipmakers are rushing to the IPO market, raising funds that are key to the nation’s goal of technological self-reliance and winning the global race on artificial intelligence.

The surge in listings is coming on the back of two blockbuster trading debuts that signaled insatiable demand for future national champions that analysts say could one day even rival the likes of Nvidia Corp. While some of these firms are already domestic industry leaders, they remain an obscurity to many international investors, making their share sales in Hong Kong a crucial test of confidence.