Shanghai Biren Technology, a Chinese AI chip designer, saw its shares surge 82.1% on its Hong Kong debut, opening at HK 35.7. The company raised HK 5.58 billion in its IPO, with strong demand from institutional and retail investors. Founded in 2019, Biren develops GPUs and intelligent computing systems, aiming to rival advanced processors from U.S. companies like Nvidia. The IPO proceeds will fund research and development, despite risks from U.S. export controls.