On September 26, Moore Threads Intelligent Technology passed the listing review by the Shanghai Stock Exchange, moving closer to becoming China’s first publicly traded GPU company.
According to its prospectus, the company plans to raise RMB 8 billion to fund the R&D of three key projects: a new-generation AI training and inference chip, a graphics processor, and an AI SoC, while also strengthening its liquidity position.
As a startup focused on fully-functional GPUs, Moore Threads has released four generations of products. The latest, "Pinghu", introduced in 2024, delivers notable performance: a maximum frequency of 2GHz, 8,192 shader cores, 512 tensor cores, and support for FP8 precision—making it suitable for AI training and inference workloads. The company’s self-developed MUSA architecture enables unified support for AI computing and graphics rendering.
Additionally, Moore Threads launched its first SoC, "Yangtze", which integrates GPU, CPU, NPU, and VPU cores, delivering 50 TOPS of INT8 compute power and gaining traction in smart cockpit applications.
The company has demonstrated rapid revenue growth, with sales surging from RMB 46 million in 2022 to RMB 4.38 billion in 2024, reaching RMB 7.02 billion in the first half of 2025 alone—exceeding the total revenue of the previous three years combined.
ICgoodFind : Moore Threads' successful review and fundraising will accelerate its GPU technology development, boosting China’s domestic GPU ecosystem.
