The Chinese graphics processing unit industry is experiencing rapid growth amid rising demand from the artificial intelligence sector. Two GPU manufacturers turned losses into profits, while two others managed to reduce their losses during the first half of the year.
MetaX Integrated Circuits reported a net profit of CNY 612 million (USD 91.1 million) for the six months ending June 30, a significant turnaround from a net loss of CNY 186 million the previous year. The company’s revenue grew 45% to CNY 1.3 billion (USD 197 million), driven by the commercial deployment of its GPU products in clusters comprising thousands of cards.
Another Shanghai-based GPU developer, Iluvatar CoreX Semiconductor, posted a net profit of CNY 106 million in the first half, compared to a net loss of CNY 300 million in the same period last year. Revenue skyrocketed 192% to CNY 946 million, fueled by the expanded commercialization of intelligent computing clusters.
Moore Threads Technology reduced its net loss to CNY 11.6 million (USD 1.7 million) from CNY 271 million a year earlier. Its revenue increased 147% to CNY 1.7 billion, according to the company’s latest financial report.
Binren Technology reported that its net loss fell 76% to CNY 377 million from the previous year, while its revenue surged nearly 20-fold to CNY 1.2 billion. The Shanghai-based firm attributed this growth to its expanding customer base, noting its GPU products are now utilized by top internet companies, AI model developers, and AI data centers.
All four GPU companies increased their investment in research and development during the first half. Binren led with a 41% rise, spending CNY 804 million compared to the previous year. Moore Threads, Iluvatar CoreX, and MetaX allocated CNY 769 million, CNY 559 million, and CNY 525 million to R&D respectively, representing increases of 38%, 24%, and 15%.