Moore Threads, a Chinese GPU developer that is also focusing on AI, is progressing toward a potential IPO after restructuring as a joint-stock entity

Chinese GPU unicorn Moore Threads inches closer to IPO: Report

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2024-11-15 13:00:06

Moore Threads, a Chinese GPU developer that is also focusing on AI, is progressing toward a potential IPO after restructuring as a joint-stock entity and increasing its capital base to ¥330 million ($45.6 million), reports the South China Morning Post. Despite being on the U.S. Entity List, the company has garnered substantial private and government funding to advance China's AI and GPU capabilities.

In preparation for a public listing, Moore Threads shifted from a limited-liability company to a joint-stock status in late October, raising its capital from $3.32 million to $45.6 million. This restructuring, often a step toward an IPO, signals a likely move to enter the public market, which would align strategy of Moore Threads with other domestic players like Biren Technology and Enflame, also preparing for listings.

Moore Threads was founded in 2020 by Zhang Jianzhong, who previously led Nvidia's China operations. So far, the company has introduced three generations of microarchitectures designed both for gaming and AI workloads.