Moore Threads is pressing ahead with plans for a Hong Kong H-share sale and main-board listing after a blockbuster December 2025 debut on Shanghai's STAR Market raised about 8 billion yuan ($1.1 billion) and saw the stock jump roughly 425% from its 114.28 yuan offer price to close near 600 yuan on its first trading day. The Chinese GPU and AI chip company, founded in 2020 by former Nvidia executive James Zhang Jianzhong, has shifted from gaming graphics toward AI training and inference chips as U.S. export curbs tightened. A Hong Kong sale would give international investors easier access than the mainland market and would help fund next-generation GPU and AI chip development. The proposal still requires shareholder approval and regulatory clearances, and Moore Threads has said terms are not yet fixed and the plan remains uncertain. Its backers include Sequoia China, GGV Capital, Shenzhen Capital Group, ByteDance and Tencent.