Nvidia’s Key Supplier, Victory Giant, Skyrockets by 50% in Hong Kong IPO Launch
Victory Giant Technology, a renowned Chinese circuit board manufacturer and a crucial supplier to Nvidia, witnessed a 50% surge in its Hong Kong trading debut on Tuesday, April 21. This surge came after raising a whopping $2.6 billion in the city’s largest initial public offering this year. The Guangdong-based company’s shares closed at an impressive HK$315.00, a significant leap from the maximum listing price of HK$209.88 per share.
The blockbuster IPO was a magnet for 37 cornerstone investors who committed approximately $997 million worth of stock. This signals a strong investor appetite for companies that supply essential components for AI infrastructure. Victory Giant’s specialization lies in printed circuit boards for artificial intelligence and high-performance computing applications, earning it the top spot globally in the AI/HPC PCB market.
The successful debut of Victory Giant is a testament to the broader AI boom’s ripple effects across the supply chain. While foundation models and cloud giants often steal the limelight, Victory Giant’s robust market performance indicates that investors are increasingly viewing AI growth as a full industrial supply chain story. The company’s revenue from AI and high-performance computing segments saw a meteoric rise from RMB 461 million in 2023 to RMB 8.341 billion in 2025, with net profit surging 273% year-over-year.
Source: CNBC