Chinese GPU unicorn Moore Threads files for IPO in China

Moore Threads, a Chinese GPU company, seeks IPO amidst US chip sanctions.

: Moore Threads has filed for an IPO in China despite recent US sanctions affecting Chinese AI/GPU manufacturers. The company aims to expand its role in AI and semiconductor industries, designing GPU chips for various markets. Moore Threads, founded in 2020 by ex-NVIDIA VP Zhang Jianzhong, has raised over RMB 5 billion from major investors and achieved significant valuation. Recent US restrictions are limiting Moore Threads' access to advanced overseas foundries.

Moore Threads, a Chinese GPU manufacturer, has submitted a filing for an IPO in the domestic market in the context of increasing US sanctions. The company worked with CITIC Securities on its A-share listing and completed the necessary steps with relevant securities bodies in China.

As a leader in the Chinese GPU sector, Moore Threads is uniquely positioned, offering products for both enterprise and consumer markets similar to global players like NVIDIA. Its advancement could pivot China’s semiconductor industry forward, especially as the US intensifies restrictions affecting Chinese access to overseas advanced chip foundries.

Founded by former NVIDIA executive Zhang Jianzhong in 2020, Moore Threads has raised an impressive RMB 5 billion over six financing rounds from investors like Sequoia China and Tencent. Despite being added to the US Entity List in 2023, Moore Threads launched an innovative 1,000 teraflop GPU-based training platform, a landmark development for China's computing infrastructure.

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