A domestic GPU startup, Moore Threads, has made fresh strides in its initial public offering (IPO) journey. On the evening of November 20, the company unveiled an issuance announcement, revealing that it would commence its subscription on November 24, 2025. The planned issuance involves 70 million shares, priced at 114.28 yuan apiece, with the ambition to amass 8 billion yuan in funds.

The roster of investors participating in the strategic placement has been made public, with the allocated shares constituting 20% of the total issuance volume. Moore Threads took a significant leap forward by submitting its prospectus in June 2025 and successfully navigating the listing committee meeting on September 26, showcasing a remarkably swift progression.

Established in 2020, Moore Threads is a specialist in GPU chip design. Its founder, Zhang Jianzhong, brings a wealth of experience from his previous tenure at NVIDIA. Prior to applying for the IPO, Moore Threads had already garnered the backing of numerous renowned investment institutions, securing over 10 billion yuan in funding. Zhang Jianzhong serves as the actual controller of the company.

The capital raised from this IPO will be predominantly earmarked for chip research and development projects, as well as to bolster working capital.