Moore Threads posts US$4.3m profit as Nvidia rival surges amid Beijing chip push

Moore Threads Technology, a GPU maker from Beijing that rivals Nvidia, reported a net income of 29.4 million yuan (about US$4.3 million) for the first quarter of 2026, bouncing back from a net loss of 112.5 million yuan during the same period last year. Their revenue skyrocketed by 155% compared to last year, hitting 737.6 million yuan. This turnaround is linked to a rise in computing demand and Beijing's push for semiconductor self-sufficiency. Founder and CEO Zhang Jianzhong, who has a background with Nvidia China, stated in the 2025 annual report that the company will keep aligning with national goals by focusing on tech innovation and speeding up the launch of new chips. In March, they announced a 660 million yuan deal for a KUAE computing cluster, which features thousands of connected GPUs, though the client remains unnamed. Their financial results were filed with the Shanghai Stock Exchange on Sunday.