The 425% rally of Moore Threads is more than just a successful first day of trading; it is a statement of intent. The listing, which was oversubscribed by a factor of 2,700, reveals that capital is aggressively chasing exposure to China’s self-sufficiency drive, even as the broader market remains quiet.
Investors appear willing to overlook the company’s lack of profitability and the hurdles posed by U.S. sanctions. Instead, they are pricing in the strategic value of a local alternative to foreign chipmakers. Moore Threads has rapidly positioned itself alongside heavyweights like Huawei as a pillar of domestic innovation. Ultimately, this IPO serves as a proxy for the entire sector, proving that despite geopolitical and financial pressures, the appetite for Chinese AI hardware remains voracious.
