CNBC's Deirdre Bosa reports on China's domestic GPU maker, Moore Threads, as it plans its IPO in Shanghai.

Shanghai

Moore Threads, a GPU startup founded by former Nvidia employees, is preparing for a public debut in Shanghai amid intense domestic interest. The company's IPO is 4,100 times oversubscribed, reflecting China's broader strategy to develop its own semiconductor industry and reduce dependence on foreign technology. 

Beijing has encouraged major tech firms to shift from U.S.-made chips to domestic alternatives, with companies like Moore Threads, Huawei, and Cambricom leading the effort. Despite rapid progress and significant investment, China's chip industry remains fragmented and technologically behind, with experts estimating it could take five to ten years to close the gap with American firms.

What to know about Moore Threads, 'China’s Nvidia'

China's first-ever domestic GPU maker, MoreThreads, is readying a public debut in Shanghai. Now, it was founded by former NVIDIA employees, now trying to take on the chip giant itself. Deirdre Bosa has more in today's Tech Check. Deirdre, this is all about GPUs and just what it can do in the domestic Chinese market. Yeah, and it's about a story I know we're going to talk to as well as China securing its own supply. For NVIDIA in particular, this could also be a two-front challenge. Google's TPUs at home and then China's stack abroad. It's telling that China's hottest IPO this year is a GPU startup at the center of Beijing's push to break free from NVIDIA and American technology. Now, MoreThreads IPO, which is 4,100 times oversubscribed in Shanghai, it sits inside of this larger trend. Beijing went from hoarding NVIDIA chips to blocking some of its biggest technology companies from using them in new data centers. So that means forcing them to shift budget and engineers to domestic chips. Now, there's MoreThreads, but there's also Huawei and Cambricom and rising startups like Byron and MedEx. They're building different pieces of a system all designed to make the country less dependent on American chips. Now, to be sure, there's still a long way to go. China's industry is fragmented. It is subsidy dependent and they still lag American chips by generations. Yet NVIDIA itself is warning investors to pay attention, saying that expert controls are pushing Chinese companies to adopt domestic accelerators. And even if those aren't as performative today, they're good enough in many cases to start replacing some U.S. systems inside of China and potentially at other countries that can't afford or can't get access to cutting edge GPUs, Dom. All right, Deirdre, just how long will it be before the supply chains really shift? I mean, you said generations behind. So this isn't realistic and say like the next year or two. No, I don't think so. Depends. I mean, I think that progress has probably surpassed what many experts thought it could do. So I think it's moving quicker than many had thought because Beijing is pouring so many resources and focus and capital into this push. We'll see. I don't know how long it takes to catch up in terms of generations, but it's not just that they need to catch up on the whole ecosystem. Right. Part of what makes NVIDIA so valuable is that whole ecosystem. The CUDA software, the hardware, everything that goes along with that. NVIDIA is trying to do this with different companies. So it could take five years. It could take 10 years. They may never get there, but they're certainly trying everything they can.

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Breakdown