Moore Threads raised about $1.1 billion in a Shanghai IPO as its shares jumped more than 400% on debut and closed roughly five times the 114.28 yuan IPO price.The offering was led by CITIC Securities with joint bookrunners BOCI, China Merchants and GF Securities, and Moore Threads said proceeds will accelerate core R&D for a self‑developed new‑generation AI training and inference GPU line and bolster working capital.The listing unfolded after U.S. export curbs on
Nvidia and amid policies favoring domestic chips while new entrants such as
Enflame Technology and
Biren Technology enter the
AI‑chip market.