Moore Threads Skyrockets 425% in Shanghai Debut, Positioning Itself as China’s Rising Nvidia Rival

Key Points

• Chinese AI chipmaker Moore Threads surged 425% in its Shanghai IPO debut.
• The company raised 8 billion yuan ($1.13 billion), the largest tech IPO on the STAR Market this year.
• Founded by a former Nvidia executive, Moore Threads is viewed as China’s strongest homegrown GPU challenger.
• Shares opened at 650 yuan, a 468% jump from the IPO price of 114.28 yuan.
• The debut reflects investor confidence in China’s semiconductor self‑reliance push amid U.S. export restrictions.

Moore Threads’ Explosive IPO Marks a Milestone for China’s Chip Ambitions

Chinese AI chipmaker Moore Threads Technology delivered one of the most dramatic market debuts in recent years, soaring 425% on its first day of trading on the Shanghai STAR Market. The surge marks one of the biggest IPO pops since China’s 2019 market reforms and underscores the country’s accelerating drive to build a domestic semiconductor ecosystem.

The company raised 8 billion yuan ($1.13 billion), instantly becoming the STAR Market’s largest tech listing of the year.

A Homegrown Challenger to Nvidia

Founded in 2020 by a former Nvidia executive, Moore Threads has quickly become a symbol of Beijing’s ambition to reduce reliance on U.S. technology—particularly in the GPU sector, where Nvidia remains dominant.

The company develops:

• GPUs
• AI‑focused intelligent computing clusters

Its hardware has already gained traction among Chinese AI start‑ups seeking alternatives amid tightening U.S. semiconductor export controls.

The stock’s explosive debut signals strong investor belief that Moore Threads could become a central player in China’s long‑term tech strategy.

A Stunning First Day on the STAR Market

Moore Threads’ shares opened at 650 yuan, representing a 468% jump from the IPO price of 114.28 yuan. The overwhelming demand reflects broad enthusiasm for companies building AI infrastructure—one of the fastest‑growing sectors in China’s tech economy.

Despite ongoing challenges around chip performance and manufacturing yields, the listing highlights China’s determination to cultivate a competitive, self‑sustaining semiconductor industry.

Analysts See a Pivotal Role Ahead

Market analysts say Moore Threads is well‑positioned to become a cornerstone of China’s GPU development efforts. Its blockbuster debut demonstrates investor confidence even as the broader Chinese market remains cautious.

The company’s rapid rise also comes at a time when China is doubling down on tech independence, making Moore Threads a closely watched player in the global semiconductor landscape.

What Happens Next?

Moore Threads will now face the challenge of scaling production, improving chip performance, and competing with established global giants. Investors and industry observers will be watching closely to see whether the company can translate its market momentum into long‑term technological breakthroughs.

For China, the success of Moore Threads could mark a significant step toward reducing reliance on foreign chipmakers—and reshaping the global GPU market.