Core Viewpoint - The article discusses the competitive landscape of domestic GPU companies in China, highlighting the upcoming IPO of Mu Xi Integrated Circuit and the recent success of Mo Er Thread, emphasizing the importance of capital in advancing technology and market positioning in the AI computing sector [1][2][4][8]. Group 1: Mu Xi Integrated Circuit - Mu Xi Integrated Circuit's IPO on the Sci-Tech Innovation Board is set for review on October 24, following the successful listing of Mo Er Thread [1]. - The company focuses on high-performance GPU chip development, with a product matrix covering AI computing, general computing, and graphics rendering, achieving over 25,000 units sold [2]. - Mu Xi aims to leverage capital to overcome technical bottlenecks in high-performance GPUs and enhance penetration in vertical sectors like education, finance, and healthcare [2]. Group 2: Mo Er Thread - Mo Er Thread has set a benchmark by successfully passing its IPO review, with its MTT S5000 chip nearing the performance level of NVIDIA's A100 [4]. - The company reported a revenue scale of 1.8 billion yuan and has over 2 billion yuan in pending orders, indicating market recognition of its technology [4]. - Mo Er Thread plans to use its proposed fundraising of 8 billion yuan entirely for the development of next-generation chips targeting AI training and graphics rendering [4]. Group 3: Other Competitors - Suiruan Technology and Biran Technology are in the preparatory stages for their IPOs, with unique technological highlights: Suiruan focuses on a "reasoning before training" strategy, while Biran's BR100 chip boasts performance three times that of the A100 [4][6][7]. - The progress of these companies may influence the capital landscape of the domestic GPU industry [4]. Group 4: Market Context - The global GPU market has been dominated by foreign manufacturers, with NVIDIA's CUDA ecosystem presenting significant barriers to entry for domestic firms [7]. - The urgency for domestic GPU companies to achieve self-sufficiency in computing power is underscored by NVIDIA's H100 graphics card price soaring to 200,000 yuan per unit [7]. - The high investment and complexity of GPU R&D are highlighted, with Mo Er Thread having accumulated losses exceeding 5 billion yuan over three years, indicating the need for substantial funding to alleviate R&D pressures [8]. Group 5: Future Implications - The outcome of Mu Xi's IPO review on October 24 will be pivotal in the ongoing capital race among domestic GPU companies [8]. - The collective push for IPOs among these companies represents a critical step in overcoming technological barriers and advancing China's autonomous computing infrastructure [8].