Bloomberg: Moore Threads' Shares Drop After IPO Investment Plan Revealed
Photo by Willy the Wizard on Unsplash
Moore Threads Technology, a Chinese AI chipmaker, plans to allocate 7.5 billion yuan, roughly 90% of its IPO capital, into low-risk banking products like timed deposits and certificates of deposit. Following this filing with the Shanghai Stock Exchange regarding the use of "idled funds," the company's shares have declined.
Key takeaways
- Shares of Moore Threads Technology Co
- , a Chinese artificial intelligence chipmaker, have decreased following the company's announcement regarding the allocation of its initial public offering (IPO) proceeds
- According to a filing with the Shanghai Stock Exchange, Moore Threads intends to invest 7
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