一南一北，两公司同时闯进国产GPU上市决赛圈，后面要看裁判！

Core Viewpoint - The acceptance of IPO applications for Shanghai-based Mu Xi Integrated Circuit Co., Ltd. and Beijing-based Mo Er Thread Intelligent Technology Co., Ltd. by the Shanghai Stock Exchange signifies recognition of breakthroughs in domestic GPU technology and the potential for growth in the semiconductor industry [1][10]. Group 1: Company Background - Mu Xi was established on September 14, 2020, to address the growing demand for high-performance computing and graphics processing capabilities, particularly in AI and cloud computing [2]. - Mo Er Thread was founded in October 2020, aiming to meet the urgent need for domestic GPU development and to break the foreign technology monopoly in this field [2]. Group 2: Founding Teams - Mu Xi's core team includes members from leading chip design companies like NVIDIA, AMD, and ARM, with founder Chen Weiliang having extensive experience at AMD [3]. - Mo Er Thread's team comprises top GPU talents, primarily from NVIDIA, with founder Zhang Jianzhong having over 15 years of experience in the GPU industry [3]. Group 3: Product Directions - Mu Xi focuses on developing high-performance GPU chips and computing platforms for AI, general computing, and graphics rendering, with applications in data centers and cloud computing [4]. - Mo Er Thread targets next-generation GPUs for metacomputing applications, emphasizing integration across various computing domains, including AI and 3D graphics [6]. Group 4: Competitive Landscape - Both companies face intense competition from global giants like NVIDIA and AMD, which dominate the GPU market due to their technological advantages and established ecosystems [7]. - Domestically, they also compete with other Chinese GPU manufacturers such as Cambricon and Jingjia Micro, which are increasing their R&D investments [7]. Group 5: Fundraising Plans - Mu Xi aims to raise CNY 3.904 billion for projects related to high-performance GPU development and industrialization [8]. - Mo Er Thread plans to raise CNY 8 billion to support various chip development projects and to meet significant funding needs for business expansion [8]. Group 6: Financial Performance - Mo Er Thread's projected revenue for 2024 is CNY 438 million, with cumulative R&D investment of CNY 3.81 billion from 2022 to 2024, resulting in a net loss of CNY 1.49 billion [9]. - Mu Xi anticipates a revenue of CNY 740 million in 2024, with a net loss of CNY 1.4 billion, reflecting the capital-intensive nature of GPU development [9].