Shares of Moore Threads, 'China's Nvidia', soar over 400% on debut

Shares of Moore Threads Technology Co, dubbed by analysts as "China's Nvidia", soared over 400% on debut in Shanghai on Friday amid bets the US-blacklisted startup will benefit from Beijing's push for domestic chip manufacturing. The stock opened at 650 yuan (₹8,268), over five times its IPO price of 114.28 yuan (₹1,454). It later hovered around 600 yuan (₹7,632).