Moore Threads Posts Q1 Profit as China GPU Demand Surges
Chinese Nvidia challenger reports 155% revenue jump, shares rise 8.5%
Quick Look
- Moore Threads, a Beijing-based GPU maker challenging Nvidia, reported a Q1 2026 net profit of 29.4 million yuan versus a loss a year earlier, with revenue up 155% to 737.6 million yuan.
- Shares jumped 8.5% on Monday as the company benefits from Beijing's push for chip self-sufficiency.
- The firm disclosed a 660 million yuan order for its KUAE computing cluster at end-March.
AI-generated summary
Why It Matters
Moore Threads is one of China's leading domestic GPU developers aiming to challenge Nvidia in the AI chip market. The company was founded by Zhang Jianzhong, former China head of Nvidia. Beijing has been aggressively promoting semiconductor self-sufficiency amid US export restrictions on advanced chips.
Shares of Moore Threads, one of China's Nvidia challengers, jumped as much as 12.5 per cent on Monday morning on the back of a swing to a profit in the first quarter, as domestic graphics processing unit (GPU) champions capitalised on surging computing demand amid Beijing's push for chip self-sufficiency. The Beijing-based firm reported a net profit of 29.4 million yuan (US$4.3 million) for the January to March 2026 period, compared with a net loss of 112.5 million yuan a year earlier, according to a filing to the Shanghai Stock Exchange on Sunday. Quarterly revenue jumped 155 per cent year on year to 737.6 million yuan. Its shares rose 8.5 per cent to 693.03 yuan by the midday break on Monday. "In 2026, Moore Threads will continue to align with national strategies by focusing on core technology breakthroughs and accelerating the roll-out of next-gen chips," said founder and CEO Zhang Jianzhong in the 2025 annual report released on the same day. Zhang is a former China head of Nvidia. At the end of March, the company disclosed a 660 million yuan order for its KUAE computing cluster, which is based on tens of thousands of interconnected GPUs, without revealing the client.
What to Watch
AI outlook — possibilities, not facts
Moore Threads will continue to announce additional large computing cluster orders in 2026
Likely · Within months
More details on next-gen GPU products will emerge in Q2 2026
Likely · Within months
Open Questions
- Who is the client for the 660 million yuan KUAE computing cluster order?
- What are the specific next-gen chips Moore Threads plans to release?
- How will US export restrictions impact Moore Threads' supply chain?
