Within days, a new billionaire has emerged from a Chinese chip company, following a familiar path: learn from an industry giant, then start a solo venture, and continue amid geopolitical tensions between the United States and China. Five years ago, Chen Weiliang ended a 14-year career and left a senior executive position at Advanced Micro Devices (AMD) to focus on chip startups. MetaX Integrated Circuits Shanghai, the startup, went public in Shanghai on Wednesday at a valuation of $5.9 billion. After the stock jumped as much as 569% on its first day of trading, the value of Chen’s 55 million shares rose from $824 million to about $5.4 billion, according to the Bloomberg Billionaires Index. MetaX declined to comment. China’s New Billionaires The story of Chen, 49, rising to the ranks of billionaires takes a path similar to what happened to Moore Threads Technology founder Zhang Jianzhong, a former Nvidia executive whose wealth rose to $4.3 billion after the initial public offering of Moore shares earlier this month. Also Read: China Prepares $70 Billion Incentives To Support Chip Industry Together, the two founders reflect the rise of a new class of billionaires in China, supported by Beijing’s efforts to build a self-sufficient chip supply chain. However, both companies remain vulnerable to geopolitical pressures, significant cash outflows, intense domestic competition and reliance on hardware and equipment, which could quickly put these gains to the test. “In the technology war between China and the US, companies in Beijing’s priority sectors are receiving support well above the usual levels,” said Shen Meng, director of Chanson & Co, a Beijing-based investment bank. “While R&D is an easier issue for founders with experience in the US sector to handle, Chinese companies are still significantly behind large global companies in terms of system, systems and production level performance.” MetaX’s extensive recruitment of top-level engineering talent was a key factor behind its rapid rise, as it allowed Chen to bypass the learning curve typical of startups. Among their first hires were chief technology officers Peng Li, one of China’s first female scientists at Advanced Micro Devices, and Yang Jian. Like Moore, MetaX’s IPO made many people associated with the company rich. The fortunes of Peng and Yang rose to $374.2 million and $369.8 million respectively. Attracting tech talent Chen studied at the China University of Electronic Science and Technology, completed his master’s degree in engineering at Tsinghua University, and attracted a group of former colleagues at Advanced Micro Devices who currently hold key management positions at MetaX, including Chen Yang, Zhou Jun and Wang Ding. Also read: Chips ignite a major power struggle… Who is at the forefront of industry in the world? To maintain this efficiency, Chen used a series of limited partnerships before the IPO, which made a large number of R&D workers rich. In 2024 alone, the company distributed 461 million yuan ($65.5 million) in stock-based compensation to employees, according to the prospectus, the bulk of which went to senior executives. However, more than 80% of the workforce, numbering 870 employees, have indirect stakes through share ownership platforms. According to the offer price, a share that does not exceed 0.017% can be worth one million dollars, making its owner a millionaire. “It’s almost the only way to convince an established candidate to leave an established company,” says Echo Wang, regional director at Hays Shanghai, a technology recruitment company. She added that top talent from large international companies receive top-tier financial packages, and start-ups can usually only compete by offering attractive equity incentives to make up the difference. “Meta Read also: The US artificial intelligence tsar: China rejects NVIDIA H200 chips and supports its domestic chips. Along with giant American chip companies such as NVIDIA and Advanced Micro Devices, MetaX faces an arena full of domestic competitors, including More, Huawei Technologies, Hygon Information Technology, and Cambricon information technology, and Cambricon matureicon products, and Haigon matureicon products, and Haigon products. relations,” says Matthew Deng, consulting director at BDA China. Meta During the period from 2022 to 2024, the company spent more than 2.2 billion yuan on research and development alone. While revenue jumps strongly and reaches 915 million yuan in the first half of 2025, surpassing the entire previous year’s total, net profitability 1 billion, with a net loss of 1 billion. yuan in 2024. Meta Its position in the face of competing products, such as Huawei’s Ascend chips. A subsidiary of a Beijing-backed group that serves as a main channel for local chips to enter government data centers is another risk that MetaX operates as a chips without factories, but relies on third-party foundries to produce them, as the United States’ ability to tighten pressure on suppliers is subject to trade restrictions, our ability to deliver products could be materially affected,” the prospectus said.