China’s Biren raises $892M to build GPUs that can take on Nvidia at home

Shanghai Biren Technology raised about $892.5 million through a share sale to accelerate production of next-generation GPUs aimed at China's cloud and data center markets. The funding will primarily support commercializing and mass-producing GPUs amid U.S. export controls limiting Nvidia's chip sales in China. Biren competes with other local firms like Moore Threads and MetaX in a growing domestic GPU market.