China, NVIDIA
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The announcement ended what has effectively been a ban on AI chip sales to the world's second-largest economy and America's strategic adversary.
His firm raised 8 billion yuan ($1.1 billion) in the year’s second-largest initial public offering in mainland China, with the stock soaring 425% in its trading debut in Shanghai on Friday. That surge gave Moore Threads a market value of almost $40 billion and transformed the former Nvidia Corp.
Moore Threads shares rose 500% on their first day of trading on the Shanghai stock exchange. The company is China's answer to Nvidia.
China has “twice as much energy as we have as a nation, and our economy is larger than theirs. Makes no sense to me,” Huang said.
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