US-Blacklisted Moore Threads IPO Makes Ex-Nvidia Manager a Billionaire

• Former Nvidia manager Zhang Jianzhong became a billionaire after his Chinese chip startup, Moore Threads, had a blockbuster IPO.
• Moore Threads raised $1.1 billion in its IPO, with shares soaring 425% on debut, giving it a market value of nearly $40 billion.
• The company was previously blacklisted by the US government but remained defiant in its goal to develop all-purpose chips in China.
• The IPO highlights China's drive for tech self-sufficiency amid US trade tensions and a frenzy for domestic chipmakers.
• Zhang, who spent 15 years at Nvidia, founded Moore Threads in 2020 to develop full-function GPUs, mirroring Nvidia's versatility.

Why It Matters: Ex-Nvidia manager's IPO success highlights China's tech self-reliance amid US sanctions.