HK Stock Market Move | ILUVATAR COREX (09903) rose by over 11% to a new high. The company benefits from the strong demand and supply of AI computing power and the increasing rate of domestically produced GPUs.

ILUVATAR COREX (09903) rose more than 11% again, reaching a high of 880 Hong Kong dollars, setting a new record high on the stock market. As of the time of writing, it is up 10.09%, trading at 867.5 Hong Kong dollars, with a turnover of 4.53 billion Hong Kong dollars. On the news front, there have been reports recently that ByteDance is negotiating with domestic GPU manufacturer ILUVATAR COREX to purchase AI chips, with an expected delivery of at least 50,000 chips this year, mainly used to support its AI chatbot Siasun Robot&Automation Dou package for inference calculations. According to the IT Times, Alibaba is also in contact with ILUVATAR COREX and is likely to become its next customer. ILUVATAR COREX is a leading domestic GPU (GPGPU) and AI computing solution provider in China, with products covering all scenarios of AI training and inference, and planning chip architecture routes including Tiangui, Tianxuan, Tianji, and Tianquan, to compete with NVIDIA's next-generation architecture. Guosheng believes that the company continues to benefit from the industry trends of strong supply and demand for AI computing power and the increasing localization rate of GPUs. The products tianyao, Zhikai, and Tongyang have built a complete product matrix. With the acceleration of product architecture iteration and commercialization customer landing progress, performance is expected to continue to be released from 2026 to 2028. Guangda Overseas indicates that commercialization is imminent, and the company has deep cooperation with several domestic CSPs, expecting intensive shipments in the second half of 2026 and 2027. Overseas channels are stable, and domestic channels are actively being developed.