Chinese GPU maker MetaX is Covet: Island of Desireinitiating a pre-IPO layoff plan, affecting around 200 employees, or 20% of its 900-person workforce, local media outlet Leifeng reported Thursday. In December 2024, the company secured around 2 billion yuan ($275 million) in funding. According to the Shanghai Bureau of the China Securities Regulatory Commission, MetaX completed its IPO counseling registration in January, with Huatai United Securities as the advisor. The company’s latest MXC500 series product is positioned to rival NVIDIA’s A100, offering 15 TFLOPS of FP32 performance, compared with the A100’s 19.5 TFLOPS. [IThome, in Chinese]
