Key facts
- Chinese chip designer Kiwimoore has confidentially filed for a Hong Kong IPO.
- The company is targeting a valuation of about $2 billion.
- Kiwimoore plans to list in Hong Kong in the first half of 2027.
- In July, the company raised 700 million yuan ($103.79 million) at an 8 billion yuan valuation.
- Kiwimoore makes networking technology for AI accelerators.
Chinese chip designer Kiwimoore has confidentially filed for an initial public offering in Hong Kong, with sources indicating a target valuation of approximately $2 billion. The company aims to list in the first half of 2027.
Kiwimoore recently raised about 700 million yuan, equivalent to $103.79 million, in a July funding round that valued the company at 8 billion yuan. CITIC Securities and ABC International have been appointed to manage the Hong Kong IPO.
Founded in early 2021 and based in Shanghai, Kiwimoore develops networking technology crucial for linking artificial-intelligence accelerators within computing clusters. The company is strategically positioned to benefit from Beijing's initiative to foster a self-sufficient AI chip supply chain, particularly following U.S. restrictions on advanced technology exports to China.