The swift approval of the domestic GPU startup Moore Threads in a mere 88 days had captured widespread attention. Now, another homegrown GPU manufacturer, MetaX, is also on the verge of undergoing a listing review. The Shanghai Stock Exchange has set October 24, 2025, as the date for reviewing the initial public offering (IPO) application of MetaX Integrated Circuits (Shanghai) Co., Ltd.

Established in Shanghai in September 2020, MetaX is dedicated to the research and development of full - stack GPU chip products, with its C - series serving as the flagship lineup. The Xiyun C600, a representative product of MetaX, is constructed using domestic advanced manufacturing processes. The project was launched in February 2024. In July 2025, it successfully achieved tape - out (a key milestone in chip development) and power - on, and is anticipated to reach risk production by the end of the year.

Currently, MetaX is in the process of developing its next - generation flagship product, the C700. It is projected that the performance of the C700 will come close to that of NVIDIA's H100. On June 30 of this year, MetaX officially submitted its IPO application. The company plans to issue no more than 40.1 million shares and raise 3.904 billion yuan. The funds will be used to drive forward three GPU research, development, and industrialization projects.