ai chips are booming, so why are the stock prices of 80% of listed companies falling?
2024-09-19
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after autonomous driving, domestic ai chips seem to have ushered in another round of listing boom.
recently, ai chip unicorn shanghai biren technology co., ltd. has registered for guidance filing with the shanghai securities regulatory bureau, intending to issue shares for the first time and go public. coincidentally, earlier at the end of august, the official website of the china securities regulatory commission also disclosed the listing guidance filing of another ai chip unicorn shanghai suiyuan technology co., ltd.
with the rapid development of artificial intelligence technology, the demand for large model training and reasoning is growing. as a core component that provides key computing power support, ai chips are becoming more and more important. but it is worth noting that according to ifind data from tonghuashun, 17 of the 21 a-share ai chip companies are falling in the first half of 2024. why is the capital market not enthusiastic? is it really a good time for companies to go for ipo at this time?
the key battle for ai chips
"ai chip companies choose to go public at the current time, mainly driven by factors such as market environment, technological progress and capital demand." angel investor and senior artificial intelligence expert guo tao believes that with the continuous advancement and wide application of artificial intelligence technology, the market demand for high-performance ai chips has surged, providing huge market opportunities for ai chip companies.
"secondly, domestic ai chips have developed rapidly in recent years, the technology has gradually matured, and the market share has continued to expand. through listing financing, these companies can not only obtain more financial support, but also enhance their brand influence and improve their market position. in addition, a number of policies have been promulgated at the national and local levels to support the artificial intelligence and chip industries, create a favorable environment for companies to go public, and encourage companies to accelerate their development with the help of the capital market."
2024 is a critical year for the development of ai chip companies. ai technology continues to develop, and multimodal large models have become the key development direction of generative ai. the continuous increase in model parameters and training data volume has driven greater demand for computing power.
according to gartner's forecast, the global ai chip market size will increase by 33% to us$71.3 billion in 2024, and is expected to further grow by 29% in 2025. the domestic market has also reached a scale of 100 billion yuan. the china business industry research institute predicts that china's ai chip market size will reach 141.2 billion to 230.2 billion yuan in 2024.
seeing such a huge demand, global technology giants and a large number of startups have joined the market, increasing investment and self-development of ai chips. however, due to the limited supply of nvidia's high-end ai chips, many companies have begun to actively seek domestic alternatives, and the trend of domestic chip replacement is taking shape.
the two companies embarking on the ipo journey this time are quite representative. founded in 2019, biren technology has made significant breakthroughs in the field of high-performance computing. the company focuses on developing original general computing systems, establishing efficient software and hardware platforms, and providing integrated solutions in the field of intelligent computing. it is worth noting that not long ago, biren technology just announced its original heterogeneous gpu collaborative training solution to achieve the coexistence of domestic gpus and nvidia gpus.
enflame technology is also eye-catching, and it has attracted much attention for its cloud training chips. founded in 2018, the company provides ai acceleration cards, system clusters, and software and hardware solutions, covering chips, boards, intelligent computing all-in-one machines, liquid-cooled computing clusters, and supporting software systems.
the concept is hot, so why are more than 80% of companies falling?
the ai chip concept is hot, but will ai chip companies be welcomed by the secondary market? judging from the performance of ai chip companies that have been listed in the first half of 2024, this is still an unknown.
ai chip companies' stock price and net profit performance in the first half of 2024
according to ifind data from tonghuashun, among the 21 listed companies, 13 companies achieved profits, accounting for 62%; 10 companies had a positive net profit growth rate, nearly half, and the overall performance was quite impressive. however, it is worth noting that the rise and fall of the industry in the first half of the year was quite different. 17 ai chip listed companies were in decline, accounting for 81%, and 12 of them had a decline of more than double digits.
the industry is booming, the profit performance is impressive, and the stock price keeps falling. guo tao said that this phenomenon may be caused by many factors. on the one hand, despite the poor performance of the overall market, the profitability of these companies is still strong, showing their competitive advantages and good management capabilities in the market. on the other hand, stock market fluctuations are affected by many factors, including investor sentiment, macroeconomic environment and industry development prospects, so even if the performance is good, the stock price may fluctuate in the short term.
it is worth noting that there are also companies with outstanding stock price performance. cambrian, known as the first stock of "ai chip", had revenue of 64.7653 million yuan in the first half of this year, a year-on-year decrease of 43.42%, and a net loss of 530 million yuan, but its increase in the first half of the year reached 47.21%. compared with the beginning of the year, its stock price has increased by 90.2% cumulatively, and its momentum of leading the industry is obvious.
as for the industry as a whole, guo tao said that at present, some domestic companies have made significant progress in the field of ai chip design, and product performance is steadily moving towards the international advanced level. however, compared with the world's top companies, my country still faces a certain gap in manufacturing technology, design innovation capabilities and industrial ecosystem construction. fortunately, the strong domestic market demand, coupled with strong support from government policies, has provided a strong guarantee for domestic ai chip companies to accelerate technological breakthroughs and catch up with the international leading level.
(xie wenqian, a reporter from dazhong news and fengkou finance)
