Shanghai Biren Technology, a US-blacklisted Chinese GPU maker positioning itself as a domestic Nvidia alternative, is weighing a roughly $1 billion share placement, according to Bloomberg, which would be its third capital raise since its January 2026 Hong Kong IPO. Banks have begun quietly sounding out investors, though final terms are not yet set. The move follows a prior placement in July 2026 that raised about HK$7 billion (roughly $892 million) to fund GPU production, as Biren and peers race to fill the gap left by US export controls on Nvidia’s most advanced chips in China.
