China’s ‘Nvidia alternative’ Moore Threads posts 147.42% growth in H1 revenue amid GPU sector’s expansion_我的网站
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A logo of Moore Threads at the 2025 World Artificial Intelligence Conference in Shanghai on July 28, 2025 Photo: VCG 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. 。
D | 来这里晨练的任国东，突然重重扑倒在跑道上。面部着地，口鼻、耳朵瞬间咕咕冒血，意识全无。那种突如其来的事件，让不少人惊慌失措，想上前却又不敢，怕帮倒忙。那一刻，跑友圈里常讨论的“心脏骤停”，真实地降临在了眼前。恰在此时，开原市中心医院120急救中心护士长马淑霞和爱人也正在跑步。听到有人喊她，身为医护人员的本能让她冲了过去。
E | 评估、判断——无脉搏、呼吸近乎消失。确诊：心脏骤停！这是急诊室里最让人头皮发麻的诊断。
F | 大家都知道“黄金4分钟”，超过这个时间，大脑皮层就会出现不可逆的损伤。马淑霞没有丝毫犹豫，立刻跪地，开始标准的心肺复苏。
G | 膝盖撞击地面，长裤磨破，汗水瞬间浸湿了她的头发。胸外按压是个体力活，每一按压都消耗着巨大的体能。按压一会后，为了不中断急救，她开始指挥身边的跑友：“你来接力！保持频率！”这是一场与死神的赛跑，也是一场跑友间的“体能接力”。有人维持气道通畅，有人疏散人群保持通风，有人拨打120，甚至有人跑去附近的商店买水、买纸擦拭血迹……整整7分58秒。这是一个什么概念？对于高强度CPR（心肺复苏）来说，这几乎是常人极限的两倍。
H | 直到救护车的到来，终于恢复了微弱的生命体征。
I | 这才是最美的“PB”事后，任国东回忆说：“看到马护士长用心地给我做心肺复苏，身边还有那么多不相识的朋友从鬼门关把我拉了回来，我由衷地感谢。
K | 但我们更应该看到，这场救援的胜利，不仅仅是马淑霞一个人的功劳，而是整个跑团、甚至这座城市的胜利。试想，如果只有马淑霞一个人，她体力耗尽却无人接替，结果会怎样？正是那些懂一点急救、愿意伸手、愿意跑腿的跑友们，构成了这7分58秒里最坚实的后盾。这才是跑友圈该有的样子：我们不只攀比配速和里程，更在关键时刻，用行动诠释什么是“爱心“。写给跑友的“保命帖”正值盛夏，这篇文章除了致敬，更想给大家提个醒。很多跑友有“夏练三伏”的习惯，但必须清楚：高温下跑步，血液大量流向皮肤散热，心脏负荷极重；加之出汗导致电解质流失，极易诱发恶性心律失常或心脏骤停。
L | 请记住这几个身体发出的“求救信号”：胸闷、压榨性胸痛、心慌心悸、头晕恶心、出冷汗、突然的浑身乏力。一旦出现，千万别硬撑！ 立刻降速、停下、到阴凉处休息。
M | 此外，夏天跑步尽量避开正午高温时段，晨跑或夜跑为佳。不要空腹、熬夜后去高强度训练。
N | 中老年跑者，请把关注点从“配速”转移到“心率”上。最好结伴跑步，或者选择锻炼人多的地方跑步，关键时刻，有个懂急救的跑友在身边，就是半条命。写在最后任国东说，马淑霞给了他第二次生命。而我想说，这次救援，也给所有跑友上了一课。跑道很长，人生更长。比完赛后的庆祝只是一时的快乐，而从死神手里抢回来的生命，才能留下永恒的喜悦。向马淑霞护士长致敬！向所有伸出援手的跑友致敬！愿每一位跑者都能平安出发，健康归来。
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