As the global AI race intensifies with computing power as the decisive factor, a Chinese chip company is challenging the dominance of international giants. On December 17, Metax Integrated Circuits (Shanghai) Co., Ltd. (688802.SH) officially debuted on the STAR Market, introducing its fully self-developed "China Chip" to the capital markets. The stock surged on its first trading day, opening at 700 yuan and peaking at 895 yuan in the morning session—a 755% increase from its IPO price of 104.66 yuan. This listing not only reflects strong investor confidence in domestic substitution but also marks a pivotal shift for China's GPU industry from "catching up" to "keeping pace."
As a long-term strategic partner, SenseTime (00020) has collaborated with Metax on foundational technology development and joint solution creation, forming a comprehensive "computing cluster + industry expansion" partnership. Together, they aim to co-build China's AI computing ecosystem while strengthening technological and ecosystem barriers through hardware-software synergy.
**SenseTime + Metax: Building a High-Performance, High-Compatibility Domestic Strategy** SenseTime, renowned for its multimodal AI capabilities and AI computing infrastructure (referred to as "AI Data Center"), focuses on advancing AI adoption through innovation. Its 2024 financial report revealed a 103.1% YoY surge in generative AI revenue to 2.4 billion yuan, doubling for two consecutive years—a growth underpinned by soaring demand for high-performance computing. Meanwhile, Metax has emerged as a leader in domestic GPUs, leveraging its full-stack solutions, ecosystem compatibility, and cost-performance advantages. Its flagship C-series GPUs excel in both computing power and ecosystem integration, making them a key partner in SenseTime’s localization strategy for AI Data Centers.
**Closing the Loop: Computing Clusters Meet Industry Demand** The two companies align strategically. SenseTime’s "trinity" framework—AI Data Center + foundational models + applications—spans computing supply to industry deployment. Metax follows a "1+6+X" market approach: one computing foundation, six core industries, and untapped long-tail sectors. Their collaboration extends beyond procurement to shared R&D, including joint hardware-software development and solution customization.
For commercialization, Metax’s GPUs are optimized for SenseTime’s infrastructure, enabling products like all-in-one machines and platform adaptations. Joint efforts include tuning models like SenseTime’s "Rixin" and World Model, along with compatibility certifications for domestic chips—bolstering AI training and inference.
**Ecosystem Synergy** Through SenseTime’s "AI Computing Mall" alliance, resources are pooled efficiently: SenseTime contributes data center capacity and scenarios, while Metax provides GPU hardware and expertise. This "demand-supply-optimization" loop enhances supply diversity, reduces costs, and supports sustainable AI advancement.
**Mutual Benefits** For SenseTime, Metax’s GPUs diversify computing supply, mitigate chip risks, and lower operational costs—key to scaling its Rixin model. Metax gains market validation and brand uplift through deep industry partnerships. Together, they pioneer new models for AI infrastructure.
Looking ahead, deeper collaboration could foster an open, collaborative domestic AI computing ecosystem with broader industry participation.
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