Strong development! Moore Thread announced the successful completion of its latest round of 2 billion yuan in financing

According to news on November 23, recently, Chinese GPU graphics card manufacturer Moore Thread successfully completed Series B financing, with a financing amount of more than 2 billion yuan. This means Moore Thread’s fifth round of financing since its establishment, and this is the first round of financing since being included in the “Entity List” by the United States on October 17 this year.

Moore, which was founded in October 2020 Thread, started its angel round of financing just two months later, and the amount of financing was not disclosed at the time. In February 2021, Moore Thread successfully completed another Pre-A round of financing, with the financing amount reaching billions of yuan. ByteDance also participated in this round of financing

In November 2021, Moore Thread announced Completed Series A financing, with the financing amount reaching 2 billion yuan. In December 2022, Moore Thread once again announced the completion of Series B financing, with a financing amount of 1.5 billion yuan, and the delivery process went smoothly. The company’s valuation reached 24 billion yuan

Moore Thread has successfully raised at least 6.5 billion yuan after five rounds of financing. Recently, on November 6, Zhang Jianzhong, the founder and CEO of Moore Thread, issued an internal letter to all employees, informing the company that it would conduct a routine job optimization. Despite this, he emphasized that China's GPU industry is not in its "darkest moment" and Moore Thread's mission has remained unchanged. It is committed to building the highest quality full-featured GPU in China and is determined to push this cause to the ultimate goal

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