Beijing-based GPU maker Moore Threads has taken a key step toward going public, releasing its prospectus for a Sci-Tech Innovation Board (STAR Market) IPO. The company, which could become China's first listed AI GPU firm, plans to issue 70 million shares and raise ¥8 billion.
Key IPO dates include:
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Preliminary inquiry: November 19
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Subscription: November 24
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Payment deadline: November 26
Founded in June 2020, Moore Threads focuses on GPU computing platforms for AI and digital twin applications. It has launched four GPU architectures and a diverse product portfolio. The IPO process moved swiftly—filed on June 30 and approved on October 30, taking just four months. Its investors include China Mobile Fund, Tencent Venture Capital, and Lenovo Capital.
Financially, the company shows rapid growth with narrowing losses:
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Revenue CAGR exceeded 200% from 2022 to 2024
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Jan-Sept 2025 revenue surged 181.99%
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Full-year 2025 revenue is projected to reach ¥1.218–1.498 billion
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The company expects to achieve profitability by 2027
High R&D investment has driven growth, though it has also led to challenges such as high inventory levels and short-term debt. The IPO funds will support technology development and market expansion.
ICgoodFind :Moore Threads' IPO marks a new phase for China's domestic GPU industry, with strong growth potential in the AI hardware sector.
