Chinese chip foundry CanSemi’s IPO oversubscribed 2,360 times as investors chase AI boom

Chinese chip foundry CanSemi Technology’s Shenzhen initial public offering (IPO) is emerging as one of mainland China’s most sought-after tech listings this year, as investors bet on its push into silicon photonics and its role in domestic artificial intelligence infrastructure. The Guangzhou-based company’s retail tranche was oversubscribed by more than 2,300 times after clawback, according to a stock exchange filing late on Sunday, as investors scrambled for a piece of the domestic...