Original magnetic moment: \( M = I \cdot A \)
Straight wire: no area ⇒ magnetic moment zero. After bending into semicircle:
\[
l = \pi R \Rightarrow R = \frac{l}{\pi},\quad A = \frac{1}{2} \pi R^2 = \frac{1}{2} \pi \left(\frac{l}{\pi}\right)^2 = \frac{l^2}{2\pi}
\]
Let original \( M = I \cdot l \), new \( M' = I \cdot A = I \cdot \frac{l^2}{2\pi^2} \)
Taking ratio, we get \( M' = \frac{2M}{\pi} \)