Core Viewpoint - The article highlights the significant growth forecast for Moer Thread's revenue and gross profit by 2025, driven by the booming AI industry and strong demand for high-performance GPUs [2]. Group 1: Financial Performance - Moer Thread anticipates revenue between 1.45 billion to 1.52 billion yuan in 2025, representing a growth of 230.70% to 246.67% compared to 2024 [2]. - The company expects a narrowed net loss of 1.04 billion to 1.15 billion yuan in 2025, with a year-on-year reduction of 29.59% to 36.32% [2]. - This marks the fourth consecutive year of revenue growth and reduced net losses, reflecting the company's improving core competitiveness and accelerated commercialization [2]. Group 2: Technological Advancements - Moer Thread has established a complete, sustainable GPU system through self-designed processes from architecture to software ecosystem, positioning itself as a rare "AI + graphics" dual-driven GPU manufacturer in China [4]. - The company has successfully mass-produced five chips within five years and completed four generations of GPU architecture, creating a diverse product matrix that supports AI, scientific computing, and graphics rendering [4]. - The flagship AI training and inference GPU card, MTT S5000, has achieved market-leading performance and large-scale production, with a floating-point computing capability of 10 Exa-Flops [5]. Group 3: Ecosystem and Collaborations - Moer Thread's MUSA architecture and software stack are highly compatible with international mainstream GPU application ecosystems, significantly reducing developers' migration costs [5]. - The company has validated its capabilities through key collaborations, achieving record performance in large-scale models and demonstrating the effectiveness of its domestic AI infrastructure [6]. - The company has invested over 4.3 billion yuan from 2022 to mid-2025 to support continuous innovation and ecosystem expansion [6]. Group 4: Funding and Future Projects - Moer Thread announced it will use its own funds to meet the financial needs of its fundraising projects, ensuring the smooth progress of GPU R&D [7]. - The funding will focus on three core R&D projects: next-generation AI training and inference chips, graphics chips, and AI SoC chips [7]. - This decision reflects the company's confidence and determination to succeed in the new GPU development cycle, reinforcing its technological barriers in the domestic GPU market [7].
摩尔线程预计2025年营收同比增长230.70%至246.67%：国产GPU商业化提速