摩尔线程科创板IPO获得受理 或成为“国产GPU第一股”

Core Viewpoint - Moer Technology has received approval for its IPO on the Sci-Tech Innovation Board, aiming to raise approximately 8 billion yuan for various AI and GPU chip development projects, positioning itself as a potential leader in the domestic GPU market [1][2]. Group 1: IPO and Funding - The company plans to raise around 8 billion yuan through its IPO, with funds allocated for the development of next-generation AI training and inference chips, graphics chips, and AI SoC chips, as well as to supplement working capital [1][4]. - Moer Technology ranked 212th in the 2025 Hurun Global Unicorn List, indicating its growing prominence in the tech industry [1]. Group 2: Technology and Product Development - Since its establishment in 2020, the company has focused on developing full-featured GPUs, successfully launching four generations of GPU architectures that cater to high-performance computing needs in AI, digital twins, and scientific calculations [1][2]. - The company has achieved significant breakthroughs in core products in critical areas, with its MTT S80 graphics card's single-precision floating-point performance nearing that of NVIDIA's RTX 3060 [2]. - Moer Technology's MUSA architecture allows for simultaneous support of AI computing acceleration, graphics rendering, physical simulation, and ultra-high-definition video processing on a single chip, enhancing the domestic GPU industry's self-sufficiency [2][3]. Group 3: Market Position and Competitive Advantage - The company's products are designed to meet diverse computing needs across AI, big data processing, digital twins, and high-definition display, showcasing high compatibility with existing global GPU application ecosystems [3]. - As of February 2025, Moer Technology has obtained 470 patents, the highest among domestic GPU companies, covering key areas such as GPU architecture and AI acceleration [3]. Group 4: Financial Performance - The company has not yet achieved profitability, with net losses reported at 1.84 billion yuan in 2022, 1.67 billion yuan in 2023, and projected at 1.49 billion yuan in 2024 [5][6]. - Research and development expenses have been significant, amounting to 1.116 billion yuan in 2022, 1.334 billion yuan in 2023, and 1.359 billion yuan in 2024, reflecting a high R&D intensity relative to revenue [5][6].