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Chinese AI server leader xFusion hires investment bank in first step toward listing
xFusion begins IPO preparation with Citic Securities amid strong 67% rise in AI stock index, aiming to capitalize on China's expanding AI sector and investor interest.
- On Jan 7, xFusion hired Citic Securities to prepare for an IPO, signing the agreement on Dec. 31 with tutoring scheduled from January through April or May, according to the CSRC filing.
- Investor appetite for AI stocks has pushed the CSI AI Index up 67% in 2025, Reuters noted this enthusiasm helps explain why tech firms like xFusion pursue IPOs now.
- The company, valued at nearly $9 billion in 2023, reported sales exceeding 40 billion yuan in 2024 and operates in over 100 countries with shareholders including China Telecom Group Investment and China Mobile Capital Holding.
- The move adds the Huawei spin-off to a list of tech firms tapping investor fervour for AI, noting xFusion was spun off from U.S.-blacklisted Huawei in 2021.
- Authorities have fast-tracked IPOs in the AI and chip sectors to build domestic alternatives, and recent listings of Shanghai Biren Technology, Moore Threads Technology, and MetaX Integrated Circuits saw first-day gains of 76%, 400%, and 700%.
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4 Articles
Chinese AI server leader xFusion hires investment bank in first step toward listing
China's leading AI server provider xFusion has hired Citic Securities in preparation for an initial public offering, regulatory disclosure showed, adding the Huawei spin-off to a list of tech firms tapping investor fervour for AI.
·United Kingdom
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