Iluvatar CoreX Posts First Half-Year Profit as Revenue Jumps 191.6%

Iluvatar CoreX reported first-half 2026 revenue of 946 million yuan, up 191.6% from a year earlier, and adjusted net profit of 246 million yuan, its first profit since listing, according to Jiemian News. The company said revenue from its general-purpose GPU products rose 231.0% to 916 million yuan, with inference-chip sales surging 651.8% to 654 million yuan, while training-chip revenue increased 38.0% to 262 million yuan. It also said it had delivered about 52,000 chips cumulatively by the end of June 2025. The company’s gross margin fell to 17.2% from 50.1% a year earlier, as lower-priced inference chips made up a much larger share of sales and a semiconductor components business recorded a gross loss of 171 million yuan. Jiemian News reported that other income and gains totaled 873 million yuan in the half, including 760 million yuan in fair-value gains on financial assets, 65 million yuan in government subsidies and 41 million yuan in interest income. The company said it bought about 0.27% of a Shanghai-listed company for about 100 million yuan, and the stake was valued at 856 million yuan at period-end but remained locked up and unrealized.