The China Securities Regulatory Commission (CSRC) has approved Moore Thread's submission of registration for an IPO on the Shanghai Stock Exchange Science and Technology Innovation Board.

On October 30, the China Securities Regulatory Commission released the Approval for the Initial Public Offering of Shares of Moor Thread Intelligent Technology (Beijing) Co., Ltd. It is reported that Moor Thread plans to list on the Sci-Tech Innovation Board of the Shanghai Stock Exchange, with CITIC SEC as its sponsor institution, intending to raise 8 billion yuan. According to the prospectus, Moor Thread is mainly engaged in the research and development, design, and sales of GPUs and related products. Since its establishment in 2020, the company has been dedicated to providing computing acceleration platforms for high-performance computing fields such as AI, digital twins, and scientific computing with its independently developed full-featured GPUs as the core. The company has successfully launched four generations of GPU architecture and expanded its product matrix to cover applications in AI computing, cloud computing, and personal computing. Moor Thread has a certain technological advantage in the domestic GPU field. Based on its independently developed MUSA architecture, the company was the first to achieve a breakthrough in single-chip architecture by simultaneously supporting the computing capabilities required for AI acceleration, graphics rendering, physical simulation, and ultra-high-definition video processing. Compared to other single AI acceleration card products that adopt technologies like GPGPU and ASIC, the MUSA architecture technology has stronger computational universality, better technical evolution capability, better ecological compatibility, and broader market adaptability. Moor Thread mainly sells card products with models S4000, S3000, and S50. Among them, shipments of S3000 card products began in 2023, with a sales volume in 2024 nearly doubling year-on-year. The models for the sale of all-in-one machine products are S4000, S3000, and S2000. The main cluster products sold are S3000 Cluster, S4000 Cluster, and S5000 Cluster, with a total sales of 10 sets of clusters. In terms of finances, in the fiscal years 2023, 2024, and January to June 2025, Moor Thread achieved operating revenues of approximately 124 million yuan, 438 million yuan, and 702 million yuan, respectively. During the same period, the company reported net profits of -1.673 billion yuan, -1.492 billion yuan, and -271 million yuan, respectively. In the first half of 2025, R&D expenses reached 557 million yuan.