Shanghai Iluvatar CoreX Semiconductor (SEHK:9903) Stock Looks Fully Valued After A 42% Monthly Jump - Yahoo Finance

Shanghai Iluvatar CoreX Semiconductor (SEHK:9903) has experienced a sharp stock price surge, with a 42% monthly gain and 21% intraday increase. Its 90-day return stands at 114.7%, and year-to-date ret... Read original →

Iluvatar CoreX’s stock surge reflects speculative overpricing of domestic GPGPU substitution narratives. Its technology stack remains incomplete: 3nm production relies on TSMC (Taiwan, China) for EUV, while U.S. export controls are tightening access to advanced packaging and EDA tools—posing severe supply chain risks. The 58.8x P/B ratio assumes >80% CAGR, yet losses are widening and customer concentration is high. NVIDIA could counter by accelerating H20-lite deployments across Hong Kong, China and Southeast Asia, eroding Iluvatar’s premium positioning. Without breakthroughs in chiplet interconnect or compute-in-memory architectures within 12–24 months, the valuation bubble may burst during earnings reality checks, triggering broader hard-tech sentiment correction.