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

Chinese GPU designer Iluvatar CoreX 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 chips ​due ​to US 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)