国产GPU双巨头IPO新动向

Core Viewpoint - Two leading domestic GPU manufacturers, Moer Thread and Muxi Co., have updated their IPO progress, indicating a growing interest and investment in the GPU sector in China [1][2]. Group 1: Moer Thread - Moer Thread plans to conduct its IPO on November 24, with an online subscription code of "787795" and aims to issue 70 million shares, accounting for 14.89% of the total post-IPO share capital [1]. - The company has developed a full-function GPU since its establishment in 2020, focusing on high-performance computing areas such as AI, digital twins, and scientific computing [1]. - Moer Thread's IPO aims to raise 8 billion yuan for the development of a new generation of AI training and inference chips [1]. - The company reported revenues of 0.46 billion yuan, 1.24 billion yuan, and 4.38 billion yuan from 2022 to 2024, with net losses of -1.84 billion yuan, -1.67 billion yuan, and -1.49 billion yuan respectively, indicating revenue growth and narrowing losses [2]. Group 2: Muxi Co. - Muxi Co.'s IPO review status has been updated to effective registration, focusing on the development of high-performance GPU chips and computing platforms for AI training and inference [2]. - The company plans to raise 3.904 billion yuan through its IPO, targeting projects for new high-performance general-purpose GPU development and AI inference GPU development [2]. - Muxi Co. reported revenues of 0.4264 million yuan, 5.30212 million yuan, 74.30716 million yuan, and 91.49310 million yuan from 2022 to the first half of 2025, with net losses of -7.76965 million yuan, -87.11582 million yuan, -140.88794 million yuan, and -18.58933 million yuan respectively [3]. - The company aims to enhance its market position and influence by focusing on national and market demands, driving innovation, and promoting a collaborative industry ecosystem [3].