Moore Threads Posts Q1 Profit as China GPU Demand Surges

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.