Moore Threads booked 1.736 billion yuan in first-half revenue, roughly $257 million, up 147 percent from a year earlier and already past everything it sold across all of 2025. Gross profit reached 989 million yuan, a gain of about 104 percent.
The Beijing designer, long described as China’s answer to Nvidia, also logged a profitable first quarter of 29.4 million yuan, against a loss of 112.5 million yuan a year before, though the six-month result remained in the red with net losses narrowing by almost 96 percent.
It credits two things, stronger appetite for general-purpose GPUs rather than fixed-function accelerators and quicker rollout of its Kuae clusters, which bundle its silicon into rentable AI infrastructure. Demand for those clusters has pulled the flagship MTT S5000 into volume production use, with the capital city, Wuxi and Hangzhou among the first customers to absorb it.
The backdrop matters as much as the numbers. Buying Nvidia parts inside China has become difficult under US export controls, which pushed domestic buyers toward local supply whether or not it was cheaper.
Moore Threads listed on Shanghai’s STAR Market last December, raising close to 8 billion yuan, and closed its first session 425 percent above the offer price. Revenue that arrives as commercial orders rather than state procurement is the difference between a policy story and a business, and the company has now produced two quarters of it.
