China's first chip company that has achieved mass production of general-purpose GPUs, the Iluvatar CoreX, saw its share price surge by more than 30 percent at its trading debut Thursday at the Main Board of the Hong Kong Exchanges and Clearing Limited (HKEX).
The stock price reached 190.2 Hong Kong dollars (about 24.40 U.S. dollars) at the opening bell, a 31.54-percent surge from its issue price of 144.6 Hong Kong dollars.
"Today, we embark on a new journey. With Hong Kong as our window to the world, we embrace global capital to accelerate breakthroughs in core technologies. In the future, we will continue to uphold our fundamental mission of serving national strategies, and deepen our commitment to the general-purpose GPU track," said Gai Lujiang, chairman of the Board and Executive Director of Shanghai Iluvatar CoreX Semiconductor Co., Ltd.
Founded in 2015, the Iluvatar CoreX raised approximately 3.7 billion Hong Kong dollars in its IPO. As of Friday's closing, the company's market capitalization totaled 44.25 billion Hong Kong dollars.
"Because Hong Kong stock valuations are more rational, I think the company's performance reflects its core technological attributes and distinctive characteristics. The capital market's increased support for new quality productive forces accelerates the development of industries and enterprises alike. In practice, this represents a mutually reinforcing relationship that benefits investors as well," said Qian Qimin, executive general manager of Shenwan Hongyuan Securities. Data showed that the Iluvatar CoreX's general-purpose GPU products shipment volume has grown steadily from 7,800 units in 2022 to 16,800 units in 2024, reaching 15,700 units in the first half of 2025.
As of June 30, 2025, the company has delivered more than 52,000 units of general-purpose GPU products to 290 clients across diverse industries.
Chinese chip stock soars over 30 pct in trading debut at HKEX
Thousands of demonstrators rallied in Italy and Greece on Saturday to protest against U.S. military intervention in Venezuela, with protesters in Rome, Milan and Athens condemning Washington's actions and calling for respect for Venezuelan sovereignty.
In Rome, more than 1,000 demonstrators marched toward the area near the U.S. Embassy, calling on Washington to immediately release Venezuelan President Nicolas Maduro and his wife.
Police blocked roads around the embassy to prevent protesters from approaching the building, but demonstrators continued to denounce U.S. actions.
"First of all, we oppose U.S. imperialist aggression. This kind of behavior is shameful. The U.S. is attacking a sovereign country, and as [U.S. President Donald] Trump himself has said, this is for oil interests," said protester Giovanni Barbera.
Saturday's rally marked the second large-scale protest in Rome this month against U.S. military operations in Venezuela, following an earlier one on on Jan 3.
Participants included members of multiple political parties, labor unions and social organizations. The protesters held banners reading "Stop imperialist interference" and "Free Maduro," urging the international community to respect Venezuela's sovereignty and the will of its people, and condemning the U.S. for violating international law.
"We are protesting the way the U.S. handles international politics. Since the events of January 3, we have seen violations of international law, and we are very concerned about how the global situation is developing," said protester Stefano De Angelis.
Organizers said solidarity rallies in support of Venezuela were held in 30 Italian cities on the same day.
Meanwhile, similar protests were also staged in Greece. About 200 people gathered outside the U.S. Embassy in Athens, voicing support for Venezuela and opposition to U.S. military actions.
"We oppose U.S. imperialism and its attack on Venezuela. At the same time, the U.S. is also threatening Cuba, Mexico and Greenland. We must stand up against this behavior," said Greek protester Argiro Sirmakezi.
Protesters rally in Italy, Greece against U.S. military operation in Venezuela
