Investing.com– Shares of Lightelligence, formally known as Shanghai Xizhi Technology, surged in their Hong Kong trading debut on Tuesday, highlighting strong investor appetite for artificial intelligence-linked listings despite broader market volatility.
Shares of the Shanghai-based optical computing firm surged as much 408% to HK$930, versus the offer price of HK$183.2, according to Hong Kong stock exchange data.
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The rally follows a heavily anticipated listing that raised roughly $300 million to $400 million, positioning Lightelligence as one of the first AI photonics companies to go public in Hong Kong.
Lightelligence specializes in optical computing technologies that use light instead of electricity to process data, a field gaining traction as demand for faster and more energy-efficient AI infrastructure accelerates.
The strong debut underscores continued investor interest in next-generation semiconductor and AI supply chain companies, even as geopolitical risks and elevated interest rates weigh on broader equity markets.
Hong Kong’s fell 0.7% on Tuesday, with the sub-index declining 1.2%.
The company was founded in 2017 and is backed by investors including Tencent (HK:) and Baidu (HK:).