Moore Threads' Massive IPO Surge

Moore Threads, a Chinese AI chipmaker, saw its stock price skyrocket by 425% on its first day of trading in Shanghai, raising €970 million. This marks one of the largest offerings since China updated its listing rules in 2019. Despite being a second-tier domestic chipmaker, the surge in semiconductor stocks and US export controls on advanced chip exports to China have intensified Beijings push for semiconductor self-reliance, creating a protected market for local chipmakers.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.