MTT GPU Family by Moore Threads: status and timeline

Milestones

Next · Hong Kong Stock Exchange Main Board listing

Company founded by ex-NVIDIA VP Zhang JianzhongOct 2020Complete.
First GPU products announced (MTT S60 and S2000)31 Mar 2022Complete.
Shanghai STAR Market IPO5 Dec 2025Complete.
Hong Kong listing approval7 Aug 2026Complete.

Most important updates

Moore Threads H1 2026 revenue reaches RMB 1.736 billion, up 147% year-over-yearJun 2026
Moore Threads IPO on Shanghai STAR Market raises over US$1.1 billion, shares surge 468%5 Dec 2025

Upcoming

2026Hong Kong Stock Exchange Main Board listing (next)
2027New GPU product family launches

Current obstacles

CUDA ecosystem dominanceNVIDIA's CUDA platform has two decades of developer investment, optimized libraries, and embedded knowledge. Switching costs are high for existing AI teams.
Performance validationGPUs must prove parity or superiority to NVIDIA on standard benchmarks like MLPerf and real-world model training tasks to win enterprise adoption.
Global supply chain restrictionsUS export controls limit Moore Threads' ability to source advanced components and tools, potentially constraining technology roadmap execution.

Physics limits

Moore's Law transistor scalingGPU performance improvements depend on advancing to smaller process nodes, constrained by physics and geopolitical chip design/manufacturing access.
Memory bandwidth limitsAI training and inference are memory-bandwidth limited. Improvements require faster memory interfaces (HBM, CXL) which mature slowly.

How it works

3 parts

MUSA ISA

Independent GPU design

Full-featured arch supporting AI, graphics, physics, and science vs. NVIDIA's specialization.

Tensor cores

AI compute

Specialized compute for tensor ops and LLM inference like NVIDIA.

Stack

Libraries and tools

Programming model, libraries, drivers to compete with CUDA.

Spec sheet

Spec	MTT GPU Family
H1 2026 revenue	RMB 1.736 billion^R (reported)
Year-over-year revenue growth	147.42%^R (reported)
H1 2026 gross profit	RMB 989 million^R (reported)
Shanghai IPO proceeds	RMB 8 billion (~US$1.1 billion)^R (reported)

^R reported by the company

Update log

2 updates

Jun 2026

Major: Moore Threads H1 2026 revenue reaches RMB 1.736 billion, up 147% year-over-yearFilingCommercial

Fri 5 Dec 2025

Major: Moore Threads IPO on Shanghai STAR Market raises over US$1.1 billion, shares surge 468%PressFunding

About Moore Threads

The team behind MTT GPU Family

Moore Threads

Chinese GPU design, AI acceleration, MUSA architecture

Chinese GPU designer founded 2020 by former NVIDIA VP. Designs AI, graphics, and scientific computing GPUs on one chip. Shanghai STAR Market IPO December 2025, Hong Kong listing approved August 2026.

Moore Threads raised over US$1.1 billion in its Shanghai IPO in December 2025, becoming China's first publicly listed GPU maker.
H1 2026 revenue: RMB 1.74 billion, up 147% year-over-year with gross profit RMB 989 million.
The company's board approved a Hong Kong Stock Exchange listing plan in August 2026 to attract R&D talent and pursue global expansion.

moore-threads.com (opens moore-threads.com)Company profile →

Founded: 20206 yrs
Headquarters: China
Status: Public
Valuation: $42Bmarket capDec 2025
Staff: ~1,300Aug 2026
Last round: IPO (Shanghai STAR Market) · $1.1BDec 2025
Works in: ComputingAI accelerators & CPUs
Coverage: 1 program · 3 updateslatest 7 Aug 2026checked 11 Oct
Customers: Chinese research institutes
People: Zhang JianzhongFounder and CEOZhou YuanCo-founder, Senior Director of Market EcosystemZhang YuboCo-founder, GPU Architect

Spec

MTT GPU Family

H1 2026 revenue

RMB 1.736 billion^R (reported)

Year-over-year revenue growth

147.42%^R (reported)

H1 2026 gross profit

RMB 989 million^R (reported)

Shanghai IPO proceeds

RMB 8 billion (~US$1.1 billion)^R (reported)