Biren Technology rises over 8% after Credit Suisse upgrade

Biren Technology (6082.HK) climbed more than 8% during regular trading to HK$49.78.

Credit Suisse reiterated an Outperform rating on the company, setting a price target of HK$67.4. The bank cited large orders from major clients and the expected tape-out of the next-generation BR20X series in the third quarter, with a commercial release planned for the second half of the year. The move benefits from surging AI demand and semiconductor substitution trends.

The company previously raised approximately HK$7.04 billion through a placement to accelerate commercialization and production of its next-generation general-purpose graphics processing units (GPGPUs).