Ex-NVIDIA exec turns billionaire after Moore Threads's wild IPO debut
Zhang Jianzhong, who once worked at NVIDIA, just became a billionaire thanks to Moore Threads Technology's blockbuster IPO in Shanghai.
The company pulled in $1.1 billion (8 billion yuan) this month, making it China's second-biggest IPO of 2025.
On day one, shares soared 425%, shooting the company's value to nearly $40 billion and putting Zhang's stake at over $4.3 billion.
Why it matters
Moore Threads's big moment highlights China's push for tech independence as US trade tensions continue.
The company—and its now-billionaire co-founders—are betting big on AI and graphics chips, even though they're not profitable yet due to massive R&D costs.
The fresh funds will help them chase next-gen tech projects and keep up with global competition in this fast-moving space.