China AI ObservatoryDelivered cluster contractvendor
Company reports a RMB 660 million KUAE contract fully delivered and recognized in first-half revenue
As of 2026-06-30Moore Threads · 2026 half-year report (source)Company dossier · Reviewed 2026-09-16
Moore Threads 摩尔线程
GPU hardware and the MUSA programming ecosystem.
What the evidence says
Moore Threads now has company-reported commercial evidence from a delivered RMB 660 million KUAE cluster contract, while JD Cloud's 100,000-GPU cluster remains an announced plan rather than an operating deployment. The disclosed utilization and scaling figures are self-measured and do not provide a matched current foreign-hardware comparison.
Moore Threads · 2026 half-year report (source)Moore Threads · JD Cloud and Moore Threads announce planned 100,000-GPU cluster (source)Moore Threads · GPU and MUSA portfolio (source)Critical facts
First-half commercial scalevendor
Company reports RMB 1.736 billion of first-half revenue, up 147.42% year over year, and an attributable net loss of RMB 11.56 million.
As of 2026-06-30Moore Threads · 2026 half-year report (source)Vendor-reported KUAE training metricsvendor
Company reports Dense-model MFU up to 60%, MoE-model MFU up to 40%, 95% linear scaling efficiency and effective training time above 90%; workload, power and matched comparator details were not disclosed in the filing.
As of 2026-06-30Moore Threads · 2026 half-year report (source)JD Cloud cluster planvendor
JD Cloud announced a plan to build a 100,000-GPU cluster based on Moore Threads; no delivery schedule, completed card count, topology or operational results were disclosed.
As of 2026-09-09Moore Threads · JD Cloud and Moore Threads announce planned 100,000-GPU cluster (source)Company news
Timeline →vendor
JD Cloud announces planned 100,000-GPU cluster based on Moore Threads
JD Cloud and Moore Threads announced an intended 100,000-card full-function GPU cluster for model training, inference and embodied-AI workloads.
Why it matters. The target would be a major domestic scale milestone if built, but the announcement is a plan, not delivery or acceptance evidence. It gives no schedule, GPU model, completed card count, topology, interconnect, power, failure-recovery data or workload result.
Moore Threads · JD Cloud and Moore Threads announce planned 100,000-GPU cluster (source)vendor
Moore Threads reports first-half revenue scale and a delivered KUAE cluster contract
Moore Threads' half-year report says revenue reached RMB 1.736 billion, up 147.42% year over year, while attributable net loss narrowed to RMB 11.56 million. It says a RMB 660 million KUAE cluster sales contract was fully delivered and recognized as revenue.
Why it matters. The delivered contract is stronger commercialization evidence than a roadmap announcement. It remains company-reported and does not disclose the customer, accepted card count, topology, workload results, power, uptime or production economics.
Moore Threads · 2026 half-year report (source)