Movement Alert｜Iluvatar CoreX Rises 4.29% in Regular Trading, Multiple Investment Banks Initiate Coverage with Bullish Targets

Market Focus07-22

On July 22, Iluvatar CoreX rose 4.29% in regular trading, trading at 622.5 HKD/share, with turnover of HKD 491 million.

On the news front, multiple international investment banks have recently initiated coverage on the company with buy ratings: CMB International raised its target price to HKD 878, Goldman Sachs initiated with a target of HKD 1,000, Bank of America set its target at HKD 1,013, and Macquarie initiated coverage with a target of HKD 1,240. Additionally, the company launched its next-generation flagship GPGPU product, Tiangai 300, during the World Artificial Intelligence Conference and reportedly secured an order from ByteDance for at least 50,000 AI chips primarily for inference workloads, further enhancing near-term revenue visibility.

Institutions broadly view the company as well-positioned to benefit from rising AI capital expenditure in China as a leading domestic GPGPU supplier. Goldman Sachs projects the company will turn net-profit-positive by 2027, with operating expense ratio declining from 156% in 2025 to 23% by 2030.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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