Shares of Chinese AI Chipmaker Surge on Reports of Major ByteDance Order

Stock News06-24 15:32

Shares of ILUVATAR COREX (HKEX: 09903) surged over 6% in late afternoon trading. At the time of writing, the stock was up 6.05% to HK$7.80, with a turnover of HK$1.496 billion.

The rally follows media reports indicating that ByteDance is in discussions with the domestic GPU manufacturer to purchase AI chips. The order is expected to involve the delivery of at least 50,000 units this year, primarily to support the inference computing for ByteDance's AI chatbot, Doubao.

Additional reports suggest Alibaba is also in contact with ILUVATAR COREX and could become its next major client.

A key point of note is that the reported scale of ByteDance's potential purchase exceeds the total number of GPUs shipped by the company throughout the entirety of last year.

According to an analysis by Guosen Securities, if ILUVATAR COREX's inference chips are priced at approximately 11,700 yuan per unit in 2025, the ByteDance order could generate nearly 600 million yuan in revenue for the company. This figure would equate to about 60% of its total revenue from the previous fiscal year.

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