Moore Threads Slumps on Lockup Expiry; GPU Valuation Shifts: what are the key facts?

Moore Threads shares hit the daily limit down on Sept. 7 due to lock-up expirations, wiping out nearly 48.8 billion yuan in market cap in a single day.

Moore Threads Slumps on Lockup Expiry; GPU Valuation Shifts: what are the key facts?

Cambricon reported first-half revenue of 5.996 billion yuan and net profit attributable to shareholders of 2.311 billion yuan, achieving scaled profitability.

Moore Threads Slumps on Lockup Expiry; GPU Valuation Shifts: what are the key facts?

MetaX still posted losses after deducting non-recurring items in the first half, but its Q2 adjusted net profit turned positive at 54 million yuan.

Moore Threads Slumps on Lockup Expiry; GPU Valuation Shifts: what are the key facts?

Nvidia's share of China's AI chip market has dropped to approximately 55%, as domestic vendors accelerate their capture of market space.

Physix Frontier · News Briefing Card (enbrief · Sep 8, 2026)

Moore Threads Slumps on Lockup Expiry; GPU Valuation Shifts

KEY FACTS

Moore Threads shares hit the daily limit down on Sept. 7 due to lock-up expirations, wiping out nearly 48.8 billion yuan in market cap in a single day.
Cambricon reported first-half revenue of 5.996 billion yuan and net profit attributable to shareholders of 2.311 billion yuan, achieving scaled profitability.
MetaX still posted losses after deducting non-recurring items in the first half, but its Q2 adjusted net profit turned positive at 54 million yuan.
Nvidia's share of China's AI chip market has dropped to approximately 55%, as domestic vendors accelerate their capture of market space.

KEY DATA

48.8 billion yuanMoore Threads Single-Day Market Cap Loss

2.311 billion yuanCambricon H1 Net Profit Attributable

55%Nvidia China Market Share

142.18 yuanEnflame IPO Price

PHYSIX OBSERVATION

Capital is no longer paying for 'scarcity' but scrutinizing 'survivability.' As multiple vendors demonstrate commercial viability, the industry is shifting from early-stage storytelling to a brutal ranking battle. The stock decline is not a signal of industrial recession but a return to rational pricing: the market is beginning to distinguish between true ecosystem builders and mere policy-benefit backups. Future competition will pivot from hardware specs to software migration costs and developer stickiness.

Source: enbrief original report ↗