Core Viewpoint - Moore Threads showcased its full-stack technological achievements based on the MUSA unified architecture at the first MUSA Developer Conference, highlighting significant advancements in AI computing capabilities [1] Group 1: Technological Achievements - The "Kua'a Wanka" efficient training was introduced, featuring the Kua'a Wanka intelligent computing cluster, which supports the training of trillion-parameter models with engineering capabilities and reliability, achieving international leading levels in several key precision metrics [1] - A breakthrough in inference performance was achieved in collaboration with Silicon-based Flow, where the DeepSeek R1 671B full model demonstrated performance milestones, with MTT S5000 single-card Prefill throughput exceeding 4000 tokens/s and Decode throughput surpassing 1000 tokens/s, setting a benchmark for domestic inference performance [1] Group 2: New Product Launches - The company officially launched a personal intelligent computing platform featuring the AI computing device MTT AIBOOK, equipped with the intelligent SoC chip "Yangtze," along with a mini computing device MTT AICube [1]

Core Insights - The article highlights the launch of the new generation GPU architecture "Huagang" by Moer Thread, which supports full precision computing from FP4 to FP64, with a 50% increase in density and a 10-fold improvement in efficiency [1][2]. Group 1: Product Features - The new GPU architecture "Huagang" features significant performance enhancements, with a 50% increase in computing density and optimized energy efficiency, supporting full precision calculations from FP4 to FP64 [2]. - It integrates a new asynchronous programming model and supports large-scale interconnectivity, enabling the expansion of intelligent computing clusters with over 100,000 cards through the self-developed MTLink high-speed interconnect technology [2]. - The architecture includes a built-in AI generative rendering framework and enhances hardware ray tracing acceleration, fully supporting DirectX 12 Ultimate for high synergy between graphics rendering and intelligent computing [2]. Group 2: Future Developments - The company plans to launch high-performance AI training and inference chip "Huashan" and a chip specialized in high-performance graphics rendering named "Lushan" based on the MUSA architecture [2]. - Moer Thread introduced the "Kua'e Wanka" intelligent computing cluster, which provides full precision and general computing capabilities, achieving efficient and stable AI training and inference at a scale of 10,000 cards [2]. - The company also unveiled the AI computing device MTT AIBOOK, equipped with the intelligent SoC chip "Changjiang" [2]. Group 3: Strategic Vision - The CEO emphasized that the ecosystem is the core moat and value of the GPU industry, and the company is committed to increasing R&D investment to tackle core technological challenges from hardware to software [3]. - Moer Thread aims to deepen collaboration with ecosystem partners through open innovation to build a self-reliant and robust domestic computing industry ecosystem [3].

Core Insights - The first MUSA Developer Conference showcased the launch of the new GPU architecture "Huagang" by Moore Threads, along with AI training and inference chip "Huashan" and high-performance graphics rendering chip "Lushan" [1][4][5][7] - Moore Threads introduced the "Kua'e" supercomputing cluster, featuring the self-developed "Yangtze" intelligent SoC chip, aimed at enhancing AI computing capabilities [1][9] Group 1: New GPU Architecture and Chips - The "Huagang" GPU architecture features a 50% increase in computing density and supports full precision end-to-end calculations from FP4 to FP64, with new asynchronous programming models and MTLink high-speed interconnect technology for scaling over 100,000 cards [4][14] - The "Huashan" chip focuses on AI training and inference, integrating new asynchronous programming and full precision tensor computing units, supporting large-scale intelligent computing clusters [5] - The "Lushan" chip specializes in high-performance graphics rendering, achieving a 64x increase in AI computing performance, 16x in geometric processing, and 50x in ray tracing performance, catering to AAA games and high-end graphics creation [7] Group 2: Collaborations and Ecosystem Development - Several companies listed on the Sci-Tech Innovation Board, including Dahong Technology and Zhongwang Software, are collaborating with Moore Threads to leverage its GPU for high-performance needs such as ultra-high-definition live streaming and offline video enhancement [3] - The MUSA software architecture has been upgraded to version 5.0, enhancing compatibility with programming languages like TileLang and Triton, and achieving over 98% efficiency in core computing libraries [12] Group 3: Industry Challenges and Future Directions - The need for a unified or highly compatible interface standard for domestic GPU chips is emphasized to avoid fragmentation and inefficiencies in the software ecosystem [13] - The transition from "usable" to "willing to use" domestic GPU platforms hinges on improving developer experience and reducing migration costs [12] - The engineering challenges of building large-scale systems without proprietary interconnects are highlighted, with a focus on achieving reliable low-latency communication and operational efficiency [14]

Core Insights - Moore Threads launched the "Huagang" architecture, emphasizing the development of a domestic AI computing ecosystem at the first MUSA Developer Conference [1][4] - The new architecture features a 50% increase in computing density and a 10-fold improvement in efficiency under the same manufacturing conditions [2] - The company aims to address challenges in chip manufacturing by introducing innovative instruction sets and asynchronous programming models [2] Product Launches - The "Huashan" chip is designed for AI training and inference, providing computational support for intelligent computing clusters, with performance metrics between NVIDIA's Blackwell and Hopper architectures [4] - The "Lushan" chip focuses on high-performance graphics rendering, achieving a 64-fold increase in AI computing performance and a 50% improvement in ray tracing performance [4] - The "Kua'e" computing cluster boasts a floating-point computing capability of 10 Exa-Flops, with a 60% utilization rate for Dense models and 40% for MoE models [4] Software and Ecosystem Development - The MUSA architecture has been upgraded to version 5.0, enhancing core computing libraries and communication efficiency [7] - The company plans to open-source key components of its computing acceleration libraries and system management frameworks [7] - New technologies include the MTX intermediate language for cross-generation GPU compatibility and a quantum computing framework [7][8] Market Context - The domestic AI chip industry is experiencing growth due to international restrictions on high-end chip imports, increasing market opportunities for local manufacturers [9] - Moore Threads, founded in October 2020, has seen its stock price rise by 481% since its debut on the STAR Market, with a current market capitalization of approximately 312.15 billion yuan [9]

摩尔线程今日发布新一代GPU架构花港，具备新一代指令集，算力密度提升50%，能效提升10倍，集成 全精度端到端加速技术，支持10万卡以上规模智算集群，搭载第一代AI生成式渲染架构和第二代光线 追踪硬件加速引擎。 来源：智通财经 ...

Core Insights - The collaboration between Moore Threads and 51WORLD focuses on building a next-generation physical AI simulation system based on domestic GPU computing power and advanced simulation technologies [1][3]. Group 1: Collaboration and Technology Development - Moore Threads and 51WORLD's 51Sim are working together to create a physical AI infrastructure aimed at end-to-end intelligent driving and embodied intelligence [1]. - The new simulation technology, termed "Reconstruction + Generation," addresses the limitations of traditional simulation methods, which are costly and time-consuming, by enabling AI-driven automatic generation of simulations [3]. - The physical AI simulation system developed by 51Sim and Moore Threads has already been applied in the intelligent driving sector, facilitating the closed-loop validation of intelligent driving algorithms [3]. Group 2: Capital and Market Strategy - Moore Threads is a strategic shareholder in 51WORLD, supporting its goal to become the first publicly listed company in the Physical AI sector by December 30, 2025, on the Hong Kong Stock Exchange [4]. - The partnership between Moore Threads and 51WORLD is expected to enhance their technological development and market expansion, thereby strengthening the domestic GPU and Physical AI industry chain [4].

Core Insights - The collaboration between Moore Threads and 51World focuses on building a next-generation physical AI simulation system based on the KUAE intelligent computing cluster, leveraging domestic GPU capabilities and advanced simulation technologies [1][3] - The partnership aims to address the limitations of traditional simulation methods by transitioning from manual modeling to AI-generated simulations, enhancing the efficiency and applicability of physical AI in real-world scenarios [3] - Moore Threads is a strategic investor in 51World, supporting its goal to become the first publicly listed company in the Physical AI sector by December 30, 2025, which is expected to accelerate technology development and market expansion [4] Group 1 - The collaboration centers on creating a comprehensive physical AI simulation system that integrates training and inference capabilities [3] - The new simulation technology, based on "4DGS reconstruction + generative world models," aims to overcome the challenges of high costs and long development cycles associated with traditional simulation methods [3] - The physical AI simulation system has already been applied in the intelligent driving sector, facilitating the closed-loop validation of end-to-end driving algorithms [3] Group 2 - The partnership is expected to create a synergistic effect that will enhance the development of the domestic GPU and Physical AI industry chain [4] - Both companies are pursuing a path of capitalization to secure funding for accelerated technological advancements and market penetration [4] - The future plans include expanding the application of physical AI beyond intelligent driving to encompass broader scenarios in embodied intelligence [3]

Core Insights - Moore Threads unveiled its next-generation GPU architecture "Huagang" at the MUSA Developer Conference, showcasing a full-stack technology system centered around its self-developed MUSA unified architecture [1][2]. Group 1: New GPU Architecture - The "Huagang" architecture features significant improvements in computing performance, with a 50% increase in computing density and enhanced energy efficiency, supporting full precision from FP4 to FP64 [2]. - It integrates a new asynchronous programming model and MTLink high-speed interconnect technology, enabling scalability for over 100,000 card intelligent computing clusters [2]. - The architecture includes an AI generative rendering framework and supports DirectX 12 Ultimate, facilitating a high degree of synergy between graphics rendering and intelligent computing [2]. Group 2: Upcoming Chip Technologies - Moore Threads announced two upcoming chips based on the "Huagang" architecture: "Huashan," which focuses on AI training and inference for large-scale intelligent computing, and "Lushan," which specializes in high-performance graphics rendering [3]. - The "Lushan" chip is expected to enhance AI computing performance by 64 times, geometric processing performance by 16 times, and ray tracing performance by 50 times, along with improvements in texture filling and memory capacity [3]. Group 3: Intelligent Computing Cluster - The company launched the "Kua'e" intelligent computing cluster, capable of full precision and general-purpose computing, achieving a floating-point operation capability of 10 Exa-Flops [4]. - The training efficiency metrics include a 60% utilization rate for Dense large models and a 40% rate for MOE large models, with effective training time exceeding 90% and linear scaling efficiency reaching 95% [4]. Group 4: Competitive Landscape - Moore Threads did not showcase the products at the event, while another company, Inspur, presented its "scaleX" super cluster system, marking the first public appearance of a domestic ten-thousand-level computing cluster [5]. - The competitive landscape indicates that Moore Threads is proactively positioning itself for future computing scenarios, including the launch of the MT Lambda intelligent simulation training platform [5].

Core Viewpoint - MoE Technology is launching its first generation of GPU clusters in 2024, aiming to reach 10,000 cards this year and plans for future expansions to 100,000 cards [1] Group 1: Product Development - MoE Technology held its first MUSA Developer Conference on December 20, announcing a new GPU architecture and three new chips based on this architecture [1] - The new architecture, named Huagang, improves computing density by 50% compared to the previous generation and supports full precision calculations from FP4 to FP64 [1] - The three new chips introduced are Huashan (AI training and inference chip), Lushan (graphics rendering chip), and Changjiang (system-on-chip) [1] Group 2: Performance Metrics - The previous generation S4000 card has performance metrics of 25 TFLOPS (FP32), 49 TFLOPS (TF32), 98 TFLOPS (FP16), and 196 TOPS (INT8) with a maximum power consumption of 450W [2] - In comparison, NVIDIA's A100 chip has performance metrics of 19.5 TFLOPS (FP32), 156 TFLOPS (TF32), 312 TFLOPS (FP16), and 624 TOPS (INT8) with a maximum power consumption of 300W [2] - The new S5000 card's performance in distributed inference scenarios is reported to be approximately 2.5 times and 1.3 times that of common chips for specific tasks [3] Group 3: Market Position and Financials - MoE Technology's stock debuted on the Sci-Tech Innovation Board at a price of 114.28 CNY per share, with significant fluctuations leading to a closing price of 664.1 CNY on December 19 [5] - The company has not yet achieved profitability, with cumulative losses of 1.6 billion CNY as of June this year, but it anticipates profitability by 2027 [5]

Group 1 - The core focus of the collaboration between Moore Threads and 51WORLD's simulation platform 51Sim is to build a next-generation physical AI simulation system based on domestic GPU computing power and advanced simulation and world model technologies [1][3] - The traditional simulation methods have limitations such as long construction cycles, high costs, and limited generalization capabilities, leading to a "confidence gap" with the real world [3] - 51Sim's approach of "4DGS reconstruction + generative world model" aims to transition simulation from manual construction to AI-driven generation, addressing the computational demands of physical AI simulation [3] Group 2 - The partnership has already achieved large-scale applications in the intelligent driving sector, supporting the closed-loop validation of end-to-end intelligent driving algorithms [3] - Moore Threads is a strategic shareholder of 51WORLD, which is aiming to become the first publicly listed company in the Physical AI sector by December 30, 2025, on the Hong Kong Stock Exchange [4] - The collaboration is expected to enhance funding for technology development and market expansion, thereby strengthening the synergy and promoting the development of the domestic GPU and Physical AI industry chain [4]