The Chinese company manufactures the same type of graphics processors as Nvidia, and is described by CNBC as an attempt by the country to reduce its dependence on American chips. In 2023, the company was placed under US sanctions.
Moore Threads, which is not yet profitable, was valued at $1.1 billion at the IPO. According to the company itself, the money from the IPO will be used to develop next-generation graphics processors, writes CNBC.
