Iluvatar CoreX Seeks $850 Million Hong Kong Share Sale After 428% Rally

AI graphics chip maker Iluvatar CoreX Semiconductor Co. seeks to raise about $850 million in a Hong Kong share sale. The offering follows a significant stock rally since its January 2026 IPO and the recent expiration of a six-month lock-up period. Shares are being offered at HK$476 to HK$498.40, a discount of up to 15% on the July 8, 2026 closing price.

Share sale details

• ▪Iluvatar CoreX Semiconductor Co. is seeking to raise about $850 million from a share sale in Hong Kong.
• ▪Iluvatar CoreX Semiconductor Co. is offering shares at a price range of HK$476 to HK$498.40 each.
• ▪Iluvatar CoreX Semiconductor Co. is a maker of graphics processing units (GPUs) used in artificial intelligence.
• ▪The share price range reflects a discount of up to 15% to the closing price on July 8, 2026.

Lock-up period expiration

• ▪Iluvatar CoreX Semiconductor Co.'s stock has been soaring since its initial public offering in January 2026.
• ▪Iluvatar CoreX Semiconductor Co. held its initial public offering in January 2026.
• ▪A six-month lock-up period from Iluvatar CoreX Semiconductor Co.'s IPO expired on July 7, 2026.

2 sources