Archive · 1 Dec 2025
Moore Threads IPO Bids Exceed Nvidia's Market Cap
Moore Threads, a Chinese company that makes GPUs (graphics processing units), had a huge response to its IPO.
People wanted to buy shares worth $4.54 trillion, which is more than the total value of Nvidia, a big American GPU company.
Moore Threads was started by someone who used to work at Nvidia and has support from big companies like Tencent and ByteDance.
Even though the company is not making a profit yet, people are excited about its potential, especially because there are restrictions on getting high-end GPUs from the West.
The company has developed several generations of GPUs and is seen as a symbol of China's push for its own technology.
Moore Threads' IPO received bids worth $4.54 trillion, exceeding Nvidia's market cap of $4.3 trillion.
The company aimed to raise around 8 billion yuan ($1.1 billion) through its IPO on Shanghai’s STAR Market.
Founded in 2020 by Zhang Jianzhong, a former Nvidia executive, Moore Threads is backed by Tencent, ByteDance, GGV Capital, and Sequoia China.
Despite heavy investment in R&D and inventory, the company reported a net loss of 271 million Yuan in the first half of 2025.
Moore Threads has developed four generations of GPU architectures and is seen as a symbol of China's technological self-reliance.
- Who
- Moore Threads, a Beijing-based GPU maker
- What
- IPO subscription bids worth $4.54 trillion
- When
- December 1, 2025
- Where
- Shanghai’s STAR Market
- Why
- To raise around 8 billion yuan ($1.1 billion) and attract investors betting on a Chinese GPU champion
- Company
- Moore Threads
- IPO Aim
- Raise around 8 billion yuan ($1.1 billion)
- Founder
- Zhang Jianzhong
- Early Backers
- Tencent, ByteDance, GGV Capital, Sequoia China
- Net Loss (H1 2025)
- 271 million Yuan
- Revenue (H1 2025)
- 701.8 million Yuan