Chart of the Day: Rising Revenues Mask Profit Hurdles for China’s GPU Quartet

A growing domestic appetite for AI computing power is delivering a revenue windfall for China’s four leading graphics processing unit (GPU) developers, even as obstacles litter their path to sustained profitability.

In the first half of 2026, MetaX Integrated Circuits (Shanghai) Co. Ltd. (688802. SH), Shanghai Iluvatar CoreX Semiconductor Co.

Ltd., Shanghai Biren Technology Co. Ltd. and Moore Threads Technology Co. Ltd. (688795. SH) crossed or approached a landmark revenue threshold of 1 billion yuan ($148.8 million), according to their latest financial reports.