Moore Threads, a Chinese semiconductor startup founded in 2020 that provides a graphic processing unit (GPU) announced its entry into the unicorn club with a valuation of USD1 billion after raising “billions of yuan” across two funding rounds.
The latest funding pre-series A round was led by Shenzhen Capital Group, Sequoia Capital China and GGV Capital.
This nascent startup aims to develop its own GPU to help build its visual computing and artificial intelligence platforms.
According to Moore Threads, graphic processing units play a role in the era of AI and it applies the technology to autonomous driving, big data, financial transactions, intelligent analysis, and image recognition, among other sectors.
Currently, US multinational technology company Nvidia is the only company globally that focuses on developing GPU, according to Gu Lan, chip expert at Shenzhen Capital Group.
Last year, Nvidia held over 80% of the GPU market share in China, an increase from 50% in 2008.
Among others who took part in the funding round are TikTok owner ByteDance, China Merchants Venture, Pony.ai, Riverhead Capital, Oceanpine Capital, Wenming Investment Fund, First Capital, 5Y Capital and Shenzhen H&T Intelligent.