AI chipmaker Biren raises $515 million in new share sale

Shanghai Biren Technology Co. plans to raise HK$4.04 billion ($515 million) in another share sale to fund its AI ambitions, continuing a fundraising spree among Chinese AI companies.

• Biren Technology aims to raise HK$4.04 billion ($515 million)
• Proceeds will fund the company's AI chip ambitions
• The sale extends a fundraising wave among Chinese AI firms