⬆ UPSTREAM — SUPPLIERS3
SMIC
China's largest foundry; capped at 14nm without EUV access; Entity Listed 2020
Cadence
Leading EDA software provider; IC design tools (Virtuoso, Genus, Innovus) used by every advanced chip designer; US export-controlled to Chinese entities since 2022
Synopsys
Largest EDA software provider; IC design and verification tools (Design Compiler, PrimeTime, VCS) essential for all advanced chip tapeouts; US export-controlled to Chinese entities
Moore Threads
Fabless GPU designer founded by ex-NVIDIA China head Zhang Jianzhong; MTT S-series accelerators fabbed at SMIC on mature nodes (no TSMC access); listed on STAR Market Dec 2025 at a RMB 53.7B valuation, surging ~469% on debut
⬇ DOWNSTREAM — CUSTOMERS3
Alibaba Cloud
China's #1 cloud provider; deploys Alibaba Hanguang 800 AI chip (TSMC-fabbed) and Huawei Ascend; operates Qwen LLM
Tencent Cloud
China's #2 cloud provider; major AI GPU buyer pivoting to H20/Huawei Ascend after BIS export controls; operates Hunyuan LLM
Inspur Information
China's dominant AI-server ODM (52.3% of China's AI server market, Q1 2026), also top-5 globally; FY2025 revenue ~RMB 164.8B (+43% YoY); builds servers around both compliant NVIDIA chips and domestic GPUs (Huawei Ascend, Moore Threads, MetaX); Entity Listed March 2023
UPSTREAM — SUPPLIERS
SMIC
China's largest foundry; capped at 14nm without EUV access; Entity Listed 2020
Cadence
Leading EDA software provider; IC design tools (Virtuoso, Genus, Innovus) used by every advanced chip designer; US export-controlled to Chinese entities since 2022
Synopsys
Largest EDA software provider; IC design and verification tools (Design Compiler, PrimeTime, VCS) essential for all advanced chip tapeouts; US export-controlled to Chinese entities
↓ all supply to Moore Threads ↓
Moore Threads
Fabless GPU designer founded by ex-NVIDIA China head Zhang Jianzhong; MTT S-series accelerators fabbed at SMIC on mature nodes (no TSMC access); listed on STAR Market Dec 2025 at a RMB 53.7B valuation, surging ~469% on debut
↓ Moore Threads supplies to ↓
Alibaba Cloud
China's #1 cloud provider; deploys Alibaba Hanguang 800 AI chip (TSMC-fabbed) and Huawei Ascend; operates Qwen LLM
Tencent Cloud
China's #2 cloud provider; major AI GPU buyer pivoting to H20/Huawei Ascend after BIS export controls; operates Hunyuan LLM
Inspur Information
China's dominant AI-server ODM (52.3% of China's AI server market, Q1 2026), also top-5 globally; FY2025 revenue ~RMB 164.8B (+43% YoY); builds servers around both compliant NVIDIA chips and domestic GPUs (Huawei Ascend, Moore Threads, MetaX); Entity Listed March 2023
DOWNSTREAM — CUSTOMERS
QWhat is Moore Threads's role in the AI chip supply chain?
Fabless GPU designer founded by ex-NVIDIA China head Zhang Jianzhong; MTT S-series accelerators fabbed at SMIC on mature nodes (no TSMC access); listed on STAR Market Dec 2025 at a RMB 53.7B valuation, surging ~469% on debut
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