Moore Threads, a Chinese chip designer blacklisted by the U.S., drew frenzied demand from retail investors last week in its initial public offering on the Shanghai Stock Exchange. Its share offering was more than 4,000 times oversubscribed, according to an exchange filing. Moore Threads, which designs graphics processing units for artificial intelligence applications, raised 8 billion yuan ($1.1 billion) at 114.28 yuan per share, valuing the company at 53.7 billion yuan. Founded by former Nvidia employees in 2020, Moore Threads was added to a U.S. Commerce Department trade blacklist in 2023, as Washington tightened restrictions on advanced chip exports to China. Chinese regulators approved the company’s IPO in just 88 days this September, well under the typical one-year timeline. The swift regulatory greenlight and popular retail investor demand underscore Beijing’s push to support domestic semiconductor companies in light of U.S. export restrictions against China. #🇨🇳 ChinA.I. 🤖🧠🦾🤖 https://www.moneycontrol...