没抢到摩尔线程的别着急，还有机会借“芯”暴富

Core Viewpoint - The article discusses the rapid rise of domestic GPU companies in China, particularly focusing on the successful IPOs of Moer Technology and Muxi Technology, highlighting the significant growth and investment opportunities in the Chinese GPU market driven by the demand for AI computing power [5][11][31]. Group 1: Market Dynamics - Moer Technology's stock surged to a peak of 688 CNY per share, five times its issue price, with a market capitalization exceeding 270 billion CNY [6][31]. - The IPO of Moer Technology marks a significant milestone as it becomes the first fully functional GPU company to be listed on the Science and Technology Innovation Board in China [6][11]. - The simultaneous IPO of Muxi Technology, with an issue price of 104.66 CNY per share and a subscription rate of 2,261.68 times, indicates strong market interest in domestic GPU companies [9][31]. Group 2: Investment and Growth - Moer Technology has raised over 10 billion CNY through multiple funding rounds, with a shareholder count reaching 86 before its IPO [17][31]. - The company has achieved a remarkable revenue growth from 4.6 million CNY in 2022 to 438 million CNY in 2024, reflecting a compound annual growth rate (CAGR) of 208.44% [30][31]. - Muxi Technology's revenue growth is even more pronounced, increasing from 426,400 CNY in 2022 to 743 million CNY in 2024, with a staggering CAGR of 4,074.52% [30][31]. Group 3: Technological Advancements - Moer Technology has successfully produced five chips and developed four generations of GPU architectures, establishing a comprehensive product matrix that supports AI, scientific computing, and graphics rendering [21][28]. - Muxi Technology focuses on high-performance computing, with its MXC and MXN series chips showing unique advantages in AI training and inference [22][31]. - Both companies are positioned to benefit from the increasing demand for domestic GPU solutions, especially in light of the exit of NVIDIA from the Chinese market due to export controls [26][31]. Group 4: Future Outlook - The article suggests that the successful IPOs of Moer Technology and Muxi Technology are just the beginning, with the potential for increased capital attention on the GPU industry, which could accelerate the domestic GPU replacement process [31]. - The growing demand for AI computing power is expected to create unprecedented opportunities for domestic GPU companies, as evidenced by the rising interest in the sector [24][31].