Movement Alert｜Iluvatar CoreX Rises 5.77% in Regular Trading, Goldman Sachs Initiates Coverage with Buy Rating and New GPU Launch Boosts Sentiment

Market Focus07-21

On July 21, Iluvatar CoreX rose 5.77% in regular trading, trading at HK$528.0/share, with turnover of HK$71.85 million.

On the news front, Goldman Sachs recently initiated coverage on Iluvatar CoreX with a Buy rating and a 12-month target price of HK$1,000, implying approximately 85% upside from current levels. Goldman Sachs' core thesis centers on rising AI capital expenditure in China directly driving domestic chip demand, with Iluvatar CoreX positioned as a leading beneficiary. The bank forecasts net profit turning positive by 2027 and operating expense ratio declining from 156% in 2025 to 23% by 2030.

Simultaneously, the company officially launched its next-generation flagship GPU, Tiangai 300, at the World Artificial Intelligence Conference. The product is supported by a comprehensive ecosystem spanning hardware, software, and systems. Goldman Sachs joins Macquarie (target HK$1,240), Bank of America (target HK$1,013), and JPMorgan (target HK$920) in bullish coverage of the stock.

(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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