China's Moore Threads rises on unveiling new AI chips

Shares of Chinese chip designer Moore Threads Technology 688795.SS, dubbed by analysts as "China's Nvidia", rise 4.2% to 692 yuan, set for the biggest one-day pct gain since Dec 11 after two straight session of fall

The Chinese graphics processing unit (GPU) chip designer on Saturday unveiled a suite of new products including its next-generation GPU architecture "Huagang" and will launch its "Huashan" chip, designed for AI training and inference, and Lushan chip focusing on high-performance graphics processing

Company had early in December warned investors of risks amid recent sharp rises in stock prices

Since debut on December 5, shares of the Chinese GPU maker for artificial intelligence computing up 271.8% from their IPO price of 182.25 yuan apiece