Chinese GPU company MetaX Integrated Circuit (Shanghai) Co., Ltd. has received approval for its IPO on the STAR Market, aiming to raise 3.9 billion yuan. The move is a significant step for China's domestic chip industry as it seeks to build alternatives to dominant players like Nvidia and AMD.
Founded in 2020, MetaX is a leading developer of high-performance general-purpose GPUs in China. The company's products, based on its self-developed GPU IP, target AI computing, general computing, and graphics rendering. To date, MetaX has sold over 25,000 GPUs, which are now deployed in several national AI public computing platforms and commercial data centers.
Despite its technological progress, the company is not yet profitable. It reported cumulative revenue of approximately 1.71 billion yuan from 2022 to the first half of 2025, with net losses totaling about 3.24 billion yuan during the same period. The losses are attributed to the challenge of competing in a market long dominated by foreign giants, lengthy customer validation cycles, and sustained high research and development investment.
The proceeds from the IPO will be used to fund projects for new-generation general-purpose and AI inference GPUs, aiming to enhance the company's technical capabilities and market competitiveness.
ICgoodFind : MetaX's IPO is a key milestone for China's GPU sector, boosting its potential to eventually compete in the global market.
