By Sherry Qin

An artificial-intelligence chip maker and a surgical-robotics company posted strong debuts in Hong Kong on Thursday, joining a growing cohort of Chinese technology and biomedical firms tapping the Asian financial hub for capital this year.

Shares of Shanghai Iluvatar CoreX Semiconductor rose 11% by midday from their listing price of HK$144.60. The general-purpose graphics processing unit maker raised HK$3.68 billion in gross proceeds, equivalent to US$472.6 million.

Shenzhen Edge Medical, which develops surgical robots for minimally invasive procedures, sold 27.7 million shares at HK$43.24 apiece, raising HK$1.20 billion. Its shares climbed 29% by midday to HK$55.85.

The gains came even as Hong Kong's benchmark Hang Seng Index fell 1.2% by midday.

Illuvatar CoreX's listing follows blockbuster IPO debuts by peers Moore Threads and MetaX in Mainland China, as well as Biren Technology in Hong Kong.

Chinese AI chip startups have stepped up efforts to go public as competition in the sector intensifies. Beijing has also made technological self-sufficiency a priority in its next five-year plan, while investor appetite for AI-related companies remains strong.

China's biomedical companies, meanwhile, have seen rapid growth and innovation in recent years, aided by cost advantages, technological integration and supportive government policies.

Reflecting investor optimism, the Hang Seng Biotech Index surged 64% in 2025 and is up 12% so far this year.

Write to Sherry Qin at sherry.qin@wsj.com

(END) Dow Jones Newswires

January 08, 2026 00:01 ET (05:01 GMT)

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