Beijing-based Moore Threads plans to raise 8 billion yuan, while Shanghai’s MetaX targets 3.9 billion yuan via listing on Shanghai’s STAR Market. Both companies specialize in AI graphics processing units (GPUs), crucial for accelerating machine learning workloads in non‑cloud applications.

These IPO filings are strategic: as the U.S. ramps up export controls—restricting access to Nvidia’s latest GPUs—Chinese buyers are increasingly turning to homegrown solutions. Moore Threads and MetaX highlight this shift as both “risks and opportunity” in their transparencies, positioning themselves as local substitutes for banned technologies.

The move supports China's broader industrial ambition to build domestic semiconductor champions. Both companies, founded in 2020 by former employees of Nvidia and AMD, emphasize growth despite recent financial losses driven by R&D expenses.

Key Highlights

• Dual IPO filings: Moore Threads seeks 8 B¥, MetaX opts for 3.9 B¥ on STAR Market

• Export-induced demand: U.S. GPU restrictions fostering local chip alternatives

• Founders’ pedigree: Both firms established by ex‑Nvidia/AMD talent

• Growth despite losses: Heavy R&D investment reflected in recent financial results

Why This Matters

1. Tech sovereignty in action: China intensifies efforts to reduce reliance on foreign GPU tech.

2. Boosted investor confidence: Successful IPOs can strengthen domestic chip ecosystems.

3. Geopolitical implications: Export controls may accelerate a parallel tech supply chain.

4. Innovation under pressure: Demonstrates how restrictions can drive local innovation cycles.

Source:
Reuters– Full Article