Nvidia competitor

.Moore Threads, a Beijing GPU maker dubbed “China’s Nvidia,” surged over 400 % on its Shanghai IPO, trading at roughly five times the issue price after raising $1.1 billion. The funds will finance new AI‑training and inference chips and expand working capital despite the firm’s current losses and 2023 U.S. sanctions. Its rollout of 7‑nm‑class GPUs, backed by domestic fabs and government subsidies, reflects China’s broader push to replace imported AI chips in a market projected to exceed $150 billion by 2028.