Moore Threads Reports Q1 Growth, 100,000-GPU Cluster Progress

Moore Threads published its 2025 annual report and Q1 2026 results, with Pandaily reporting 2025 revenue of RMB 1.505 billion, up 243.37% year-over-year, and a 2025 gross profit of RMB 987 million with a 65.57% gross margin, per Pandaily. Pandaily reports Q1 2026 revenue of RMB 738 million, up 155.35% year-over-year, and that net profit attributable to shareholders was RMB 29 million in Q1. Pandaily also reports a RMB 660 million order for the KUAE intelligent computing cluster in March 2026 and R&D expenditure of RMB 1.305 billion in 2025.

Pandaily states Moore Threads has filed 2,014 intellectual property applications by end-2025, including 1,743 invention patents, and secured 806 IP rights, including 590 invention patents. Pandaily characterizes the KUAE system as a large-scale intelligent computing cluster; the March order value is reported at RMB 660 million.

Editorial analysis: Vendors pursuing domestic AI compute expansion in China are showing intensified capital allocation to R&D and system integration, and public disclosures from multiple players indicate large single-customer orders as a common route to scale. For practitioners: this trend increases demand for deployment automation, cluster orchestration, thermal and power planning, and supply-chain validation when moving from prototype to hundred-node and larger installations.

Editorial analysis: Watch subsequent quarterly disclosures for gross-margin trends and cash-flow conversion, order-book cadence for KUAE deployments, partner ecosystem announcements for software stack and driver support, and any third-party benchmarks or customer case studies that verify cluster performance and reliability.