Chinese Challenger To Nvidia Mints A New Billionaire As Its Stock Soars Over 420% In Trading Debut

ByYue Wang,

Senior Contributor.

hang Jianzhong, founder of Moore Threads Technology, has joined the billionaire ranks as shares of his Chinese AI chipmaker soared over 420% on its Shanghai market debut amid optimism it could one day become the Nvidia of China.

The 59-year-old chairman and CEO of the Beijing-based firm has amassed a fortune of $4.3 billion based on his stake in the company, according to Forbes estimates. Moore Threads raised 8 billion yuan ($1.1 billion) in late November by selling 70 million shares at 114.28 yuan apiece, according to its prospectus.

Chinese Challenger To Nvidia Mints A New Billionaire As Its Stock Soars Over 420% In Trading Debut

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