Muxi Co., Ltd.: A Step Closer to IPO Approval
Summary:
- Muxi Co., Ltd., a domestic GPU manufacturer, has received approval for its IPO registration.
- The company, founded in 2020, specializes in full-stack GPU development for AI and graphics applications.
- Muxi plans to raise 3.904 billion yuan to enhance its research and product offerings.
On November 13, the China Securities Regulatory Commission announced the approval of Muxi Co., Ltd.’s registration application for its initial public offering (IPO). This pivotal decision brings the company closer to officially entering the stock market, marking a significant milestone for the domestic GPU manufacturing sector.
Company Background
Established on September 14, 2020, Muxi Co., Ltd. emerged from the collaborative vision of co-founders Chen Weiliang, Peng Li, and Yang Jian. Chen Weiliang serves as the founder, chairman, and CEO, holding 22.94% of the company’s voting rights through various shareholdings. Under his leadership, Muxi is poised to redefine the landscape of GPU technology in China.
Innovation and Product Development
Muxi focuses its efforts on full-stack GPU research and development, covering areas such as AI training inference, general computing, and graphics rendering. The company’s self-developed technology includes:
- GPU IP Architecture: A unique design tailored for performance and efficiency.
- MXMACA Software Stack: A robust software solution for optimizing GPU operations.
- MetaXLink Interconnect Technology: Advanced connectivity options that enhance performance in multi-GPU setups.
The company’s product lineup features several innovative series, including the "Xisi" N series, "Xiyun" C series, and "Xicai" G series. Notably, the "Xiyun" C500 series is slated for mass production in February 2024 and has already accounted for a remarkable 97.28% of Muxi’s main business revenue within less than two years of operations.
Sales and Future Prospects
According to the latest data, by March 2025, Muxi’s cumulative GPU sales are projected to exceed 25,000 units. The upcoming "Xiyun" C600 series, built on a domestic supply chain, is scheduled for production in July 2025. This alignment with local supply sources not only strengthens the company’s operational efficiency but also fulfills national initiatives for self-reliance in technology.
IPO Financials and Utilization of Funds
Muxi plans to issue up to 40.1 million shares, targeting a capital raise of approximately 3.904 billion yuan. The funds generated from this IPO will primarily be invested in new GPU research and development initiatives. This capital infusion is crucial for accelerating the production iteration of next-generation products, including the anticipated "Xiyun" C600 and C700 series.
The anticipation surrounding Muxi’s IPO reflects the increasing demand for advanced GPU technology, particularly in sectors such as artificial intelligence, gaming, and high-performance computing. As industries globally pivot toward more sophisticated processing capabilities, Muxi stands at the forefront, ready to deliver cutting-edge products.
Conclusion
With the approval of its IPO registration, Muxi Co., Ltd. is positioned to become a key player in the competitive GPU market. The company’s commitment to innovation and quality, combined with strategic funding from its public offering, suggests a promising trajectory for future growth. Investors and stakeholders will undoubtedly be watching closely as Muxi prepares to make its debut on the stock exchange, poised to make an impact in the technology landscape.
