Gotrade News - The artificial intelligence investment wave continues to reshape global markets, driving massive moves from IPOs to infrastructure and semiconductor supply chains. Chinese AI startup Manycore Tech surged as much as 171% on its first day of trading on the Hong Kong Stock Exchange after its IPO was oversubscribed 1,591 times.
Key Takeaways
- Manycore Tech raised HK$1.22 billion ($160 million) in an IPO oversubscribed 1,591 times, with shares surging 171% on debut
- NiSource partnered with Alphabet and Amazon on AI data centers projected to save customers $1.25 billion
- Ericsson missed profit expectations as AI-driven demand pushes semiconductor costs higher
Manycore Tech, a spatial AI company behind the Kujiale design platform, priced its IPO at HK$7.62 per share. By midday trading, shares had reached HK$18.40, reflecting a roughly 140% gain from the offer price.
The listing marks the first among a group of high-profile Hangzhou-based tech unicorns to go public this year. Manycore follows other blockbuster AI IPOs in Hong Kong, including Minimax (up 147%) and Zhipu (up 566%).
On the infrastructure side, NiSource announced a strategic partnership with Alphabet and Amazon to build AI-powered data centers. The deal is projected to deliver $1.25 billion in total customer savings, with estimates of $90 to $115 per household annually.
NiSource will provide 340 megawatts of dedicated generation capacity, plus seasonal market purchases of up to 175 megawatts. Global data center power demand is projected to increase 220% from 2023 levels to 1,350 terawatt-hours by 2030.
NiSource shares closed at $47.72 before rising 2.68% to $49.00 in after-hours trading following the announcement. CEO Lloyd Yates said the deal expands on the previously announced $1 billion in customer savings with Amazon.
However, the AI wave is also creating cost pressures across the telecom supply chain. Ericsson reported adjusted Q1 operating profit of 5.2 billion Swedish crowns ($566 million), missing analyst expectations of 5.4 billion crowns.
CEO Borje Ekholm acknowledged the company is facing increasing input costs, especially in semiconductors, driven in part by AI demand. Net sales of 49.3 billion crowns also fell short of analyst estimates of 50.7 billion crowns.
Meanwhile, Taiwan Semiconductor shares declined amid profit-taking after reporting record Q1 earnings. The selling pressure reflects investor caution on chip sector valuations despite strong fundamentals.
The combination of surging IPOs, massive infrastructure investments, and rising chip costs signals an AI landscape entering a new phase of maturity. Investors should watch how semiconductor supply-demand dynamics shape tech sector profitability going forward.
Sources
- Investing.com, Chinese AI firm Manycore shares rally over 100% in Hong Kong IPO, 2026
- Benzinga, NiSource Teams Up With Alphabet And Amazon To Power AI Data Centers, 2026
- Investing.com, Ericsson slightly lags profit expectations as AI demand drives up chip costs, 2026
