Chinese GPU developer sees stock price surge on market debut

China

Chinese GPU developer sees stock price surge on market debut

2025-12-06 01:28 Last Updated At：18:27

Moore Threads Technology Co., Ltd., a leading Chinese graphics processing unit (GPU) developer, saw its share price surge by more than 400 percent as it made its debut Friday on the Shanghai Stock Exchange's STAR Market, China's Nasdaq-style Science and Technology Innovation Board.

Offered at 114.28 yuan (about 16.15 U.S. dollars) per share in its initial public offering (IPO), Moore Threads Technology Company opened at 650 yuan and peaked at 688 yuan on Friday, up 502 percent. By market close, its share price stood at 600.50 yuan, up 425.46 percent.

The bids received exceed the entire market capitalization of U.S. industry leader Nvidia.

Moore Threads was founded in 2020 by former Nvidia China head James Zhang Jianzhong. The company specializes in developing universal GPU chips and related products that support combined workloads, including AI computing acceleration, 3D graphics rendering, ultra-high-definition video encoding, physical simulation, and scientific computing.

The company completed its entire IPO process in only 122 days, from the acceptance of its application on June 30 to the completion of registration on Oct. 30.

The successful IPO comes despite the company having been placed under U.S. sanctions in 2023.

EU ready to help de-escalate situation in Middle East: statement

European Union (EU) leaders said on Monday that the bloc was ready to play a role in easing tensions in the Middle East, calling for de-escalation and a return to negotiations.

The EU stands ready to "contribute in every possible way to help de-escalate the situation and facilitate the return to the negotiating table," European Council President Antonio Costa and European Commission President Ursula von der Leyen said in a joint statement following a video conference with leaders from the region.

They added that dialogue and diplomacy remain "the only viable way forward."

Von der Leyen and Costa reaffirmed the EU's commitment to regional stability in the Middle East, calling for the protection of civilians and full respect for international law, international humanitarian law and the principles of the United Nations Charter, according to the statement.

They also expressed "their openness" to enhance maritime defensive operations, which are aimed at protecting critical waterways and preventing any disruption to vital supply chains, the statement said.