This round of IPO pricing is really bold—opening at 688 yuan, instantly pushing the market cap to 300 billion. So it's no surprise that no one wanted 29,000 shares. Just compare and you’ll see how inflated it is: Cambricon’s Q3 revenue was 4.6 billion, and its market cap is now 560 billion; a certain new GPU star only made 780 million in revenue during the same period, yet dares to claim a 300 billion valuation?

To be honest, the full-stack GPU sector is indeed scarce. Domestically, this is the only company that can be compared to that $4.5 trillion giant. But that company has $147.8 billion in profits to back it up, and its PE is just over 50; this one looks good on paper, but its PE is heading straight for 300+. Here’s the question: do you dare to take on this valuation bubble?