In ninth grade, you can earn up to 400,000 yuan. Muxi shares (688802.SH) surpass Moore's thread and become the "king of IPOs".

On December 17, Muxi shares (688802.SH) were officially listed on the stock market. The stock price rose nearly 750% during the first day of trading, reaching a high of 895 yuan per share. The highest profit for one lot could be close to 400,000 yuan, surpassing Moor Thread as the "king of new stocks" so far this year. Muxi shares is a leading enterprise in the domestic high-performance general-purpose GPU products. The company is dedicated to researching and developing full-stack high-performance GPU chips and computing platforms. Its main business is the research, design, and sales of full-stack GPU products used in areas such as artificial intelligence training and inference, general computing, and graphics rendering, as well as providing software stacks and computing platforms around GPU chips. During the reporting period, the company launched the Xisi N series GPU for intelligent reasoning, the Xiyun C series GPU for training and computing, and the upcoming Xicai G series GPU for graphics rendering. By the end of March 2025, Muxi shares had sold over 25,000 GPU products, which have been widely used in various countries' artificial intelligence public computing platforms, operator intelligent computing platforms, and commercial computing centers. During the subscription phase, Muxi shares showed unparalleled appeal. After the callback mechanism was activated, the final online subscription rate of the company was 0.03348913%. In other words, less than 4 out of every 10,000 applicants were successful. However, going public is not the end but the beginning of a new round of challenges. Like other "Four Dragons of Domestic GPU," including Moor Thread, Muxi shares are also in a period of massive investment and accumulated losses, despite their astonishing revenue growth. Financial data shows that in 2022, 2023, 2024, and the first three months of 2025, Muxi shares are still experiencing losses, with net losses of approximately -7.77 billion, -8.71 billion, -14.09 billion, and -2.33 billion yuan respectively. Zheshang stated in a research report that as the foundation of AI computing power, AI chips have high research and development difficulty, large investment, and long cycle characteristics. The current industry trends are still dominated by overseas companies. Muxi shares also admitted in its prospectus that although some of its products have been mass-produced, entering key industry customers still requires rigorous technical verification and adaptation to the ecosystem. Sales are still in the climbing phase, and current revenue is still insufficient to cover high research and operation costs.