Core Viewpoint - The article discusses the rapid rise of Moole Technology, a domestic GPU company, highlighting its IPO progress and potential in the Chinese chip market, particularly in AI and graphics computing sectors [3][4][18]. Group 1: Company Overview - Moole Technology has achieved a significant milestone by passing the IPO review in just 88 days, which is notably faster than the average of around 200 days for similar companies [5]. - Founded by Zhang Jianzhong, a former NVIDIA executive, Moole Technology aims to develop a full-function GPU with its self-developed architecture, MUSA, which supports a wide range of precision calculations [7][8]. - The company has made substantial investments in R&D, with a projected total of 3.81 billion yuan from 2022 to 2024, which is higher than its competitors [9]. Group 2: Financial Performance - Moole Technology has reported cumulative losses exceeding 5 billion yuan over the past three years, despite its products showing competitive performance against NVIDIA's offerings [9]. - The company plans to raise 8 billion yuan through its IPO, with a focus on funding AI and graphics chip development [18]. - In 2024, Moole Technology's revenue is expected to reach 432 million yuan, with projections indicating a significant increase to 702 million yuan in the first half of 2025 [20]. Group 3: Market Position and Competition - Moole Technology's AI computing products are projected to account for 94.85% of its revenue by mid-2025, driven by the growing demand for large model training and GPU cloud services [18]. - Despite the rapid growth, Moole Technology currently holds less than 1% market share in its respective segments, indicating significant competition from other domestic GPU companies [21]. - The article notes that several other domestic GPU companies are also pursuing IPOs, which may intensify competition in the market [22].

Group 1 - The core point of the article is the significant developments surrounding Moore Threads, which is preparing for a listing on the STAR Market, and the potential investment opportunities related to companies involved with it [1] Group 2 - Companies holding shares in Moore Threads include Heertai, which has a book value of 306 million yuan for its 1.0262% stake, and Zhongke Lanyun, which holds a total of 0.5% through direct and indirect shares [3] - Unimei Holdings has invested 100 million yuan in Moore Threads through its wholly-owned subsidiary, indicating strong interest in this venture [3] - Initial Ling Information has invested in a fund that holds approximately 2.12% of Moore Threads, representing a layered investment approach [3] - Shengyuan Environmental Protection has invested nearly 30 million yuan in Moore Threads through a fund subscription made in 2021, holding 0.2423% [3] - Wanhe Electric has indirect exposure through the Qianhai Mother Fund, which holds over 186 million shares, resulting in a beneficiary ratio of 0.4664% [3] Group 3 - Companies collaborating directly with Moore Threads include Haoshanghao, which is focused on GPU rendering and AI data center products, providing both products and technical support [4] - Donghua Software is engaged in deeper collaboration with Moore Threads, focusing on software adaptation and market promotion [4] - Majie Technology is supplying inductive products to Moore Threads, with potential for increased supply share as the partnership deepens [4]