By Sheetal Kumari | March 3, 2025
MC Markets | December 3
China’s homegrown GPU maker Moore Threads has created a stir after its blockbuster IPO response.
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IPO has been subscribed 4,126 times, with bids worth about $4.54 trillion — more than Nvidia’s $4.3 trillion market value at Friday’s close.
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The scale makes it one of the most-watched Chinese listings of 2025, as investors bet on a domestic GPU alternative amid tighter US export controls on Nvidia.
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Founded in 2020 by former Nvidia China executive James Zhang Jianzhong, the company builds GPUs for gaming and AI workloads and aims to speed up its path to profitability.
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Shares are priced at 114.28 yuan, valuing the company at around $7.5 billion (53.7 billion yuan). The IPO will raise 8 billion yuan in fresh capital.
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Retail investors alone placed bids worth HK$35.5 trillion, but the final retail allocation rate stood at a mere 0.036%, reflecting extreme demand.
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Company has rolled out four GPU architectures backed by engineers with experience at Nvidia and AMD.
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The frenzy around Moore Threads comes amid a broad surge in Chinese semiconductor and AI firms.
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