Chinese GPU designer Iluvatar CoreX reports 92% jump in annual revenue

Shanghai Iluvatar CoreX Semiconductor Co

30/03/2026 13:38

By Che  Pan and Laurie Chen

BEIJING, March 30 (Reuters) - Chinese GPU designer Iluvatar CoreX 9903.HK reported a 92% jump in 2025 revenue on Monday, its first earnings release since listing in Hong Kong in January, helped by an expanded customer base amid surging demand for domestic artificial intelligence hardware.

The results underscore growing appetite for homegrown AI chip technology in China, as domestic technology firms seek alternatives to Nvidia NVDA.O chips due to U.S. export restrictions.

Revenue for the full year reached 1.03 billion yuan ($149.09 million), while adjusted net loss narrowed 32.1% year-on-year.

The company's core general-purpose GPU business, which accounted for 89% of total revenue, grew 149.6% year-on-year to 923 million yuan, driven by strong demand across both its training and inference product lines.

Iluvatar CoreX said it served more than 340 customers across industries including internet, finance, healthcare, education and transportation as of the end of 2025.

($1 = 6.9087 Chinese yuan renminbi)

 (Reporting by Che Pan and Laurie Chen
Editing by Tomasz Janowski)

 ((Che.Pan@thomsonreuters.com;))