Iluvatar CoreX Weighs $800 Million Share Sale as 428% Post-IPO Rally Lifts Stock

1 articles · Updated · Bloomberg · Jul 8

$800 million or more could be raised in a Hong Kong share placement that Iluvatar CoreX is discussing with advisers, according to people familiar with the matter.
The potential sale comes after the AI GPU maker's shares surged 428% since its January IPO, giving the company a richer valuation to tap.
Tuesday's expiry of the six-month IPO lock-up opened the way for a placement, marking the first clear window for such a deal.

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Can Iluvatar's AI chips justify its massive stock rally, or is it just a product of the US-China tech war?

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Is Iluvatar's rise proof that US export controls are creating the very competitors they sought to prevent?

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