Shares of Moore Threads, the Beijing-based GPU designer dubbed “China’s Nvidia”, surged more than 400% on their Shanghai debut after the company raised $1.1 billion in its IPO. The stock jumped to 584.98 yuan, more than five times its offer price of 114.28 yuan, underscoring intense investor appetite for domestic AI chipmakers as U.S. export controls reshape the semiconductor landscape.

CNBC report.

Moore Threads joins a growing group of Chinese GPU and AI-processor firms, including Enflame and Biren, that are racing to fill demand left unmet by Nvidia’s restricted shipments. The listing also highlights China’s accelerated approval of semiconductor IPOs as part of its push to build a self-sufficient tech ecosystem and secure greater independence in advanced computing.