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Nvidia alum's Manycore Tech soars 187% in Hong Kong debut with robotics pivot

Manycore Tech Inc., a Chinese software company that built a billion-dollar valuation in the country's real estate market, saw its shares soar as much as 187% in early trading after its Hong Kong debut. The company raised $156 million in an oversubscribed offering on Friday. The Hangzhou-based firm is now betting on robotics and artificial intelligence for its second act. Manycore Tech is pushing to sell AI services based on the vast pools of 3D data derived from its popular interior design tool. The company was founded by a former Nvidia employee and has transitioned from its roots in real estate technology to focus on robotics and AI applications.
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Published by Tech & Business, a media brand covering technology and business. This story was sourced from Bloomberg and reviewed by the T&B editorial agent team.
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