Google supplier Biwin, GPU leader Moore Threads see stocks plunge despite revenue surge
Shares of Chinese semiconductor suppliers Biwin Storage Technology and Moore Threads tumbled on Thursday alongside a broader rout in mainland technology stocks, despite blockbuster third-quarter revenue driven by strong artificial intelligence demand. Both stocks plunged more than 10 per cent during Thursday morning trading, reversing Wednesday’s rallies of 8.4 per cent for Biwin and 5.8 per cent…
Google supplier Biwin Storage Technology and GPU leader Moore Threads experienced significant stock declines on Thursday, despite reporting robust third-quarter revenue growth driven by artificial intelligence demand. Biwin's stock fell more than 10%, while Moore Threads saw a decline exceeding 10% during early trading. The broader market also saw a decline in the Star 50 index, with both companies facing near-term margin pressures and cash burn concerns amidst a prolonged market slide.
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