HK Stock Market Move | Domestic GPU duo opens higher collectively: ILUVATAR COREX (09903) up over 7%, BIREN TECH (06082) up over 5%

Domestic GPU duo opens higher collectively. As of press time, ILUVATAR COREX (09903) is up 7.12% at HK$84.3; BIREN TECH (06082) is up 5.87% at HK$23.8. On the news front, on the 12th local time, NVIDIA announced that Jensen Huang has resigned from his positions as president, chief executive officer and board member, effective immediately. Colette Kress has been appointed interim chief executive officer. Some market views hold that NVIDIA falling into a management vacuum may affect the pace of its product deliveries, which is precisely a window for domestic computing power substitution expectations to accelerate into reality. Zheshang expects that by 2029 the scale of China's general-purpose GPU market will reach RMB715.3 billion, of which the domestic general-purpose GPU market will reach RMB222.1 billion, and domestic computing power demand is accelerating its shift toward local vendors. In third-party testing completed in July this year, ILUVATAR COREX's Tiangai 300 achieved converted single-card end-to-end throughput reaching 1.05 times that of mainstream international high-end GPUs under typical PD-disaggregated deployment, which it disclosed as the first domestic general-purpose GPU to reach this level in this dimension. In September this year, it was reported that BIREN TECH's next-generation GPU had been lit up and would enter mass production. Sources indicated that Biren's new product is built on a domestic process and outperforms NVIDIA's H200.