Computing chip leader Moore Threads hits 20cm limit-down: stock price hits record low since listing, market cap falls below 200 billion yuan
Summary
Moore Threads' stock price hit the 20% limit-down in early trading today, reaching a record low since its listing, with total market cap falling below 200 billion yuan. On the news front, 25.7745 million shares from the initial public offering's offline placement became unlocked on September 7, accounting for 5.48% of total shares. The company reported H1 2026 revenue of 1.736 billion yuan, up 147.42% year-on-year, but a net loss attributable to parent of 11.5631 million yuan.
Bubble analysis
As a leading AI computing chip company, Moore Threads' sharp stock decline and market cap shrinkage reflect market concerns about high valuations in AI chips, potentially signaling a partial burst of the AI bubble. The unlocking of shares added selling pressure, but the company's high revenue growth and narrowing losses indicate fundamentals are not entirely deteriorating.
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