Moore Threads IPO on Shanghai STAR Market raises over US$1.1 billion, shares surge 468%

Moore Threads/MTT GPU Family

Moore Threads held its initial public offering on Shanghai's STAR Market on December 5, 2025, raising over US$1.1 billion and becoming China's first publicly listed GPU maker. Shares opened at 650 yuan and surged 468% on debut, valuing the company at over 300 billion yuan (US$42 billion).