AI chipmaker Cambricon Technologies Corp. on Monday saw its shares surging by almost 300 percent at opening bell in its IPO debut on Shanghai's Nasdaq-style STAR Market.

The chip startup priced the listing at 64.39 yuan (9.22 U.S. dollars) per share, offering 40.1 million new shares, which aimed to raise 2.58 billion yuan. The price opened at 250 yuan, then surged to the peak of 295 yuan in a short time but cooled down later. Until 1:50 p.m. Beijing time, the price was up and down at around 210 yuan, which set its total value at over 80 billion yuan.

The debut came four days after another chip giant, Semiconductor Manufacturing International Corp. (SMIC), made China's biggest IPO on the same market, as it saw its opening price 246 percent higher than the offered price of 27.46 yuan.

(CGTN)