➀ Shanghai Siyuang Technology Co., Ltd. (Siyuang Technology) has completed the listing guidance registration with Shanghai Securities Regulatory Bureau and is preparing for an IPO. Siyuang Technology is a super unicorn in the AI chip field, founded by Zhao Lidong, a graduate of Tsinghua University's Radio and Telecommunication Engineering Department 85th class. The company has raised nearly 7 billion yuan in financing, with Tencent being one of the largest investors. According to Hurun Research Institute, Siyuang Technology is valued at 16 billion yuan, ranking 482nd in the Global Unicorn List. ➁ Siyuang Technology has chosen to focus on AI training chips, a field with high difficulty and high barriers. The company has developed a series of AI training and inference chips, providing underlying computing power for Internet companies, cloud service providers, operators, and research institutions. ➃ The domestic AI chip market is facing challenges such as high cost of migration and technical support. Siyuang Technology needs to consider how to commercialize its computing centers. The article discusses the challenges and opportunities for Siyuang Technology and other domestic AI chip companies as they prepare for the IPO.