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China Chipmaker MetaX Soars 569% After Wildly Oversubscribed IPO

Attendees at the MetaX LLC booth at the World Artificial Intelligence ConferenceĀ in Shanghai in 2023.Photographer: Qilai Shen/BloombergMetaX Integrated Circuits Shanghai Co. soared in its first day of trading on Wednesday, the latest outsized debut by a Chinese chipmaker after similar gains by Moore Threads Technology Co. earlier this month.MetaX jumped as much as 755% in Shanghai, after raising $585.8 million in an initial public offering. The gains put the stock on track to be the top performi...

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