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China’s ‘Nvidia alternative’ Moore Threads posts 147.42% growth in H1 revenue amid GPU sector’s expansion_我的网站
A | 笛声骤响，百余名越野跑选手冲出起跑线，沿着吉林中旅松花湖度假区的高落差赛道向山顶疾行。 7日傍晚，2026松花湖东北100落日冲坡赛鸣枪开跑，参赛者迎着落日余晖奔赴终点，并在山顶与落日合影留念。 依托地处世界冰雪黄金纬度带的粉雪资源，加之夏季平均22摄氏度的凉爽气候，吉林省内各大雪场正加速从“单季冰雪”向“四季全域”转型。
Chinese chipmaker Moore Threads, often described as "China's Nvidia" or "Nvidia alternative," reported fast revenue growth in the first half of 2026, which exceeded its entire 2025 full-year figure. The growth accompanied other domestic graphics processing unit (GPU) companies' gains, marking a clear shift toward profitability.
Moore Threads, China's GPU leader, reported 1.736 billion yuan ($257 million) in first-half revenue, up 147.42 percent year-on-year. Gross profit reached 989 million yuan, up 103.78 percent, while net losses attributable to shareholders narrowed sharply by 95.73 percent, according to the financial results released on Sunday.
The company attributed the strong growth to booming artificial intelligence (AI) demand for full-function GPUs and the accelerated commercialization of its Kuae intelligent computing clusters.
Moore Threads maintained heavy research and development (R&D) spending of 769 million yuan in the first half, up 38.16 percent year-on-year, bringing cumulative investment since 2022 close to 5.9 billion yuan. As of the end of June, it filed 2,167 patent applications and held 788 authorized patents, which ranked among the top ranks of domestic GPU enterprises, the company said.
As a result of its investment in R&D, Moore Threads' flagship MTT S5000 GPUs have realized large-scale sales, with deployments in Beijing, Wuxi, Hangzhou and other cities. The first batch of intelligent computing clusters passed national security and reliability evaluations and achieved multiple "domestic chip training domestic models" breakthroughs. Its MUSA software stack now supports more than 800,000 developers.
Moore Threads also announced plans for an IPO in the Hong Kong market. It was listed on Shanghai's STAR Market on December 5, 2025.
"Chinese firms are increasingly turning to domestic suppliers, accelerating demand for local AI accelerators. Under the combined forces of surging inference computing needs and continued capital expenditure by major cloud providers, the domestic GPU and AI chip sectors are moving from an investment phase into a commercialization and profit-delivery phase," Yang Delong, chief economist at Shenzhen-based First Seafront Fund, told the Global Times on Sunday.
Biren, Moore Threads, MetaX and Enflame Technology are dubbed China's "four little dragons" in the GPU sector. Apart from Moore Threads, the other companies also showed rapid growth in their recent financial results.
In June, MetaX reported first-quarter revenue of 562 million yuan, up 75.37 percent year-on-year, and said that it had begun volume sales of its next-generation general-purpose GPU C600, representing further breakthroughs in the areas of domestic adaptation and supply chain autonomy control.
Enflame Technology reported 1,474.85 percent year-on-year growth in its revenue in the first quarter. The company estimated that its first-half revenue would grow 258.68-289.13 percent, likely to reach the level of the entire year of 2025.
Domestic GPU company Biren in March released its first financial results after being listed in Hong Kong. It reported 207.2 percent full-year growth in revenue in 2025, with gross profit up 210.8 percent.
Fellow AI chip leader Cambricon also delivered equally robust results on Friday. Its first-half revenue hit 5.996 billion yuan, up 108.13 percent year-on-year, while net profit attributable to shareholders rose 122.61 percent to 2.311 billion yuan.
Growth was driven by deeper partnerships with leading financial and internet firms and scaled commercial deployments. Cambricon said that it completed adaptation support for major Chinese open-source AI models including GLM, DeepSeek, Qwen, Kimi and MiniMax, strengthening its domestic AI computing ecosystem.
Ma Jihua, a veteran industry insider, told the Global Times that multiple Chinese companies are advancing along different technological routes covering high-, mid- and low-end products.
"With rapidly expanding capacity, they are better meeting domestic needs and beginning to reach global markets, thereby promoting more accessible AI," said Ma.
"The AI technology sector's high prosperity is expected to persist, remaining a core investment theme with substantial medium- and long-term opportunities," said Yang.
。凭借地形起伏与垂直落差等先天条件，“轻极限”运动成为撬动当地文旅消费的新支点。
B | 此番落日下的奔跑，是吉林各大雪场丰富暑期运营业态的缩影。赛事组织者介绍，近年来国内户外运动产业持续升温，越野跑赛事数量和参赛人数实现快速增长。消费趋势亦随之变化：消费者不再满足于基础消费，更愿为户外体验、健康生活、自我挑战付费，全新夏日消费场景加速成型。在2026松花湖东北100落日冲坡赛中，选手们从起点出发。 石洪宇 摄 目前，吉林市两大核心冰雪度假区的暑期运营业态日趋丰富。据吉林市冰雪经济高质量发展试验区介绍，北大湖滑雪度假区已推出30余项户外休闲项目，配套山地自行车道与徒步路线，并依托东北首条国家级登山健身步道，常态化举办山地健康跑。 全长2.3公里、落差近300米的山地滑车，以及UTV丛林穿越同步开放。
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