摩尔线程还没上市，“概念股”已经抢飞了

Core Viewpoint - The focus is on the upcoming IPO of domestic GPU company Moore Threads, which is expected to raise 8 billion yuan and potentially become the "first domestic GPU stock" [1][8]. Group 1: IPO and Market Reaction - Moore Threads is set to undergo IPO review on September 26, with an expected fundraising of 8 billion yuan [1]. - Several stocks related to Moore Threads have experienced significant price increases, with companies like Heertai and Lianmei Holdings seeing consecutive trading limits [3]. - The market's enthusiasm has led to other companies, such as Zhangjiang Hi-Tech and Ultrasonic Electronics, clarifying their lack of investment in Moore Threads [3]. Group 2: Industry Background - The domestic GPU industry, including Moore Threads, emerged around seven years ago, primarily due to U.S. sanctions against Chinese tech companies, which created a shortage of high-end GPU chips [6]. - Notable figures from international companies like NVIDIA and AMD have returned to China to contribute to the development of domestic GPU firms [6][4]. Group 3: Company Development - Moore Threads was founded by Zhang Jianzhong, a former key figure at NVIDIA China, who quickly assembled a team of top talents from various tech giants [4]. - The company has raised over seven rounds of financing since its inception, with early investors like Heertai participating in seed funding [8][9]. Group 4: Financial Performance and Future Outlook - Moore Threads has reported cumulative losses of approximately 5 billion yuan from 2022 to 2024, with expectations to achieve profitability by mid-2027 [13]. - The overall GPU market is experiencing a surge in demand, driven by the rapid growth of artificial intelligence, as evidenced by NVIDIA's market valuation increasing 15 times in just 24 months [6][8].