“国产GPU第一股”！摩尔线程大涨502%，中一签赚28万，早期投资者暴赚6200倍

Core Viewpoint - The debut of Moore Threads on the STAR Market has sparked significant market enthusiasm, reflecting strong confidence in the future of domestic high-end computing chips amid the AI wave [1] Group 1: Market Performance - Moore Threads officially listed on the STAR Market on December 5, opening at 650 yuan, a staggering increase of 468.78% from the issuance price of 114.28 yuan [1] - The stock reached a peak of 688 yuan during trading, with a maximum increase of 502%, and its market capitalization briefly exceeded 270 billion yuan [1] - As of the latest update, the stock price is 576 yuan, representing a 404% increase [1] Group 2: Investment and IPO Details - The IPO attracted 267 institutional investors, with an offline subscription multiple of 1572 times, making it the largest IPO on the STAR Market this year, raising approximately 8 billion yuan [4][5] - Early investors, such as Peixian Qianyao, saw returns exceeding 6262 times their initial investment, highlighting the company's remarkable capital appeal [6] - The company completed its IPO process in just 158 days, showcasing a rapid pace in the capital market [5] Group 3: Financial Performance and Valuation - Despite high market enthusiasm, Moore Threads is currently operating at a loss, with projected revenues of 438 million yuan and a net loss of 1.618 billion yuan for 2024 [7] - The company has experienced rapid revenue growth, increasing from 46.1 million yuan in 2022 to 438 million yuan in 2024, but continues to face significant losses due to high R&D expenditures [7] - The company's price-to-sales ratio stands at 122 times, significantly higher than that of international GPU giants like NVIDIA, indicating a premium valuation based on future growth potential [4][7] Group 4: Technological Positioning - Moore Threads is positioned as the only domestic company capable of functionally competing with NVIDIA, utilizing its self-developed MUSA architecture to achieve breakthroughs in AI computing, graphics rendering, physical simulation, and video processing on a single chip [8][9] - The company aims to create a universal computing acceleration platform to support various AI applications and scientific research needs [9] Group 5: Future Outlook and Market Potential - The company plans to invest in three major projects through its IPO proceeds, focusing on AI integrated chips, next-generation graphics chips, and AI SoC chips to meet diverse computing needs [10] - The global GPU market is projected to reach 3.62 trillion yuan by 2029, with China's market expected to grow significantly, indicating a robust future for domestic GPU manufacturers [10]