Yuanjie Semiconductor Technology has seen its shares rise nearly ninefold over the past year, driven by the artificial intelligence infrastructure boom, and is now pursuing a Hong Kong listing, making it the second most valuable mainland-listed company

Yuanjie Semiconductor Technology, a Chinese maker of laser chips for optical communications, has emerged as one of the mainland exchanges’ biggest beneficiaries of the artificial intelligence infrastructure boom – with its shares rising nearly ninefold over the past year as it pursues a Hong Kong listing. The Shaanxi-based integrated device manufacturer, whose shares closed at 1,100 yuan on Friday, now ranks second by share price among mainland-listed companies, trailing only Kweichow Moutai at....