Chinese 'Little Dragon' AI Startup Takes Flight on Trading Debut -- WSJ

Dow Jones12-17

By WSJ Staff

A Chinese startup dubbed one of the country's "four little dragons" in artificial intelligence has notched a blockbuster stock-market debut.

Shares in MetaX Integrated Circuits jumped almost eightfold on their first day of trading in Shanghai, lifting its market value to the equivalent of about $48 billion. It had raised nearly $600 million through an initial public offering.

Chinese AI chip startups have rushed to tap capital markets for funding as Beijing has made technological self-sufficiency a top priority, following U.S. efforts to limit China's access to cutting-edge technology.

Moore Threads, a fellow "little dragon," listed earlier this month in Shanghai. Its shares surged 425% on the first day and have maintained momentum since then despite some volatility.

This item is part of a Wall Street Journal live coverage event. The full stream can be found by searching P/WSJL (WSJ Live Coverage).

(END) Dow Jones Newswires

December 17, 2025 05:39 ET (10:39 GMT)

Copyright (c) 2025 Dow Jones & Company, Inc.

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