Chinese AI chipmakers Moore Threads, MetaX post first quarterly profits

Key facts

• Moore Threads, MetaX and Iluvatar CoreX are named as domestic GPU developers that swung into profit in the third quarter.
• The firms are competing to fill the market void left by Nvidia, whose high-end processors face strict US export controls.
• The report cites severe supply chain hurdles and rising memory costs as risks to the firms' longer-term growth.

Several Chinese developers of graphics processing units, the chips used to train and run AI models, moved into profit in the third quarter of 2026, according to a report published November 6, 2026. The firms named include Moore Threads, MetaX and Iluvatar CoreX.

The companies are competing to fill the market void left by Nvidia, whose high-end processors face strict US export controls. The report describes the competition among the domestic firms as fierce.

The report also cites severe supply chain hurdles and rising memory costs as factors that cloud the firms' longer-term growth prospects. It gives no figures for the profits, revenue or shipment volumes of the named companies.