From 20,000 KRW to 140,000 KRW in an Instant... The Company Founded by a Former Nvidia Executive

"Highest Surge Since 2019"

Moore Threads, a Chinese artificial intelligence (AI) semiconductor company founded by a former Nvidia executive, soared on its first day of trading on the mainland stock exchange.

According to Bloomberg, Moore Threads started trading on December 5 at its IPO price of 114.28 yuan per share (approximately 23,700 KRW), and surged during the session to over six times that amount, reaching 688 yuan.

During its initial public offering (IPO), Moore Threads raised 8 billion yuan (about 1.66 trillion KRW), making it the second-largest IPO on the mainland stock market this year. Bloomberg noted that the company’s first-day share price increase is expected to be the highest among major IPOs over $1 billion since China’s IPO system reform in 2019.

Moore Threads, a leading Chinese artificial intelligence (AI) semiconductor company, is known as the "Chinese Nvidia." Moore Threads

Founded in October 2020, Moore Threads is a graphics processing unit (GPU) development startup established by Zhang Jianzhong, who previously served as Nvidia’s head of China operations. Chief Technology Officer Zhang Weibo co-leads the company, which is often referred to as the "Chinese Nvidia."

Thanks to continuous research and development (R&D), Moore Threads has launched next-generation products every year since 2021, keeping pace with market demand. Last year, its revenue soared to 438 million yuan, about ten times higher than the 46 million yuan recorded in 2022. However, the company has not yet turned a profit due to increased R&D spending and other factors.

Nevertheless, the market analysis indicates that investor interest in Moore Threads has intensified amid rising expectations for China’s semiconductor self-sufficiency, driven by the ongoing US-China tech war. Bloomberg pointed out that Moore Threads is one of the main beneficiaries, emerging as an alternative to Nvidia chips following US export controls on semiconductors to China.

Moore Threads is the first GPU-focused company to be listed on the mainland stock exchange. Cambricon, which is already listed on the STAR Market, does not design GPUs but instead specializes in application-specific integrated circuits (ASICs) and neural processing units (NPUs) optimized for AI inference and learning.

Meanwhile, Cambricon, another company considered a rival to Nvidia in China, reportedly plans to more than triple its AI semiconductor production next year. Anonymous industry sources told Bloomberg that Cambricon is preparing to ship around 500,000 "AI accelerators" (AI chip systems) next year.