The Chinese company makes 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 on the US sanctions list.
The listing means that Moore Threads, which is not yet profitable, is now valued at just over 300 billion yuan (400 billion kronor). According to the company itself, the proceeds from the IPO will be used to develop next-generation graphics processors, writes CNBC.
Corrected: Previously, an incorrect market capitalization was stated for the company.
