本土首家通用GPU厂商，天数智芯募资 37 亿港元，加速算力替代

Core Viewpoint - The article discusses the rapid growth and opportunities in the GPU market driven by the increasing demand for AI processing capabilities, highlighting the emergence of domestic GPU manufacturers like TianShu ZhiXin as key players in this evolving landscape [1][3]. Group 1: Market Dynamics - The demand for AI semiconductors is expected to surge, with revenue projected to reach $438.5 billion by 2029, reflecting a compound annual growth rate (CAGR) of 25.9% over five years [1]. - The domestic GPU market is experiencing significant growth due to international competition, providing local manufacturers with increased opportunities [1]. Group 2: Company Overview - TianShu ZhiXin is recognized as the first domestic general-purpose GPU manufacturer, established in 2015, and has become a significant player in the GPU sector [3]. - The company has developed two main product lines: the TianYuan series for AI model training and the ZhiKai series for inference, covering the entire AI computing process from development to deployment [4]. Group 3: Product Development and Achievements - As of June 30, 2025, TianShu ZhiXin has delivered over 52,000 general-purpose GPU products to more than 290 clients across various industries, including finance, healthcare, and transportation [5]. - The company ranks among the top five core participants in China's general-purpose GPU market, with significant market shares in both training and inference GPU products [6]. Group 4: Financial Performance - The company's revenue has shown remarkable growth, with figures of RMB 189.4 million in 2022, RMB 289 million in 2023, and RMB 539.5 million in 2024, reflecting a CAGR of 68.8% [6]. - For the first half of 2025, revenue reached RMB 324.3 million, a 64.2% increase compared to the same period in 2024 [6]. Group 5: R&D and Innovation - TianShu ZhiXin has a strong R&D team of over 480 professionals, with significant experience in semiconductor design and GPU software development [11]. - The company has maintained high R&D expenditures, with amounts of RMB 456.6 million, RMB 615.9 million, and RMB 772.8 million in 2022, 2023, and 2024, respectively, representing over 140% of total revenue in recent years [12]. Group 6: Future Outlook - The company plans to continue focusing on general computing core capabilities, enhance product performance, and expand market reach while participating in global market competition [14]. - TianShu ZhiXin aims to strengthen collaborations within the industry chain and promote the development of a domestic computing ecosystem [14].