China’s Nvidia challenger crashed 20% in a reality check for an AI darling

China AI chipmaker Moore Threads was founded by a former Nvidia executive.CFOTO/Future Publishing/Getty ImagesGPU maker Moore Threads plunged 20% after an IPO lockup expired, sharply increasing its tradable shares.The Nvidia challenger has been a standout in China's AI boom, peaking at over 8 times its IPO price.China's AI frenzy is still running hot as investors bet on soaring demand for homegrown chips.Moore Threads, one of China's highest-profile homegrown challengers to Nvidia, crashed 20% o