Moore Threads Technology, a Beijing-based GPU developer, has received approval for an IPO on Shanghai’s Star Market.

The company, placed on a US trade blacklist in 2023, plans to raise about 8 billion yuan (US$1.1 billion) for research and development on new integrated circuit projects, including next-generation AI chips.

It took 88 days to secure regulatory clearance after filing its application in June.

The IPO comes as Chinese chipmakers seek more capital to meet rising domestic demand for AI chips and reduce reliance on foreign suppliers.

MetaX and Biren Technology are also pursuing public listings, while Chinese chip and AI firms, including Moore Threads, have formed an alliance to promote adoption of local processors for AI projects.

🔗 Source: South China Morning Post