Tusimple Semi-annual Report: Revenue Grows by 77%, Entering the Era of Spatial Intelligence

Author | Huang Nan

Editor | Yuan Silai

Teslam, an artificial intelligence Internet of Things (AIoT) enterprise vying to become the "first domestic AIoT stock", has updated its financial data and released its revenue situation and business progress for the first half of 2025.

The latest financial data shows that as of June 30, 2025, Teslam's revenue in the first half of the year reached 632 million yuan, a significant increase of 77% compared to the same period last year. The digital and intelligent segment of the AI industry, such as intelligent computing, which is its core business, performed remarkably well, with revenue reaching 577 million yuan, a year-on-year increase of 191.1%.

While the revenue scale has expanded rapidly, the company's profitability has also improved. The gross profit in the first half of the year reached 144 million yuan, a year-on-year increase of 64%. The gross profit margin rebounded from 15.3% in 2024 to 22.7%. The cost control and business structure optimization have achieved good results. The three - expense ratio (sales and marketing expense ratio, administrative expense ratio, and R & D expense ratio) decreased from 104.6% in the same period of 2024 to 58.1%.

Currently, the company's cash and cash equivalents at the end of the period have increased by 316% compared to the end of 2024, reaching 657 million yuan, indicating abundant cash reserves.

As embodied intelligence accelerates its implementation, Teslam takes "spatial intelligence" as its core direction and has constructed a complete AIoT technology system around two core scenarios: AIoT computing power and AIoT intelligent agents. From the underlying hardware to the upper - layer applications, the end - to - end toolchain has been established, which connects the complete closed - loop of "perception - reasoning - decision - execution" of machines in the physical space. It is committed to promoting the key leap of AI technology from two - dimensional information understanding to three - dimensional spatial interaction and accelerating the large - scale implementation of spatial intelligence.

Teslam's AI Park in Chongqing

Powerful computing power support is the key bottleneck restricting the large - scale application of technology. Facing the pain points of embodied intelligence implementation, such as the high complexity of the physical environment and strict requirements for real - time response, traditional computing power architectures face severe challenges when supporting large - scale and low - latency spatial computing.

Meanwhile, as the uncertainty in the global computing power supply chain intensifies, building an independently controllable computing power system has also become an important task for the development of China's AI industry.

Against the background of the reconstruction of the computing power landscape, Teslam focuses on heterogeneous computing and information technology application innovation adaptation and provides a complete AIoT computing power solution. At the hardware level, Teslam has launched products such as the T - Nexus series of intelligent computing servers, the T - Infer series of scenario - based multi - modal all - in - one machines, and the T - Cluster heterogeneous chip super - nodes.

Among them, the T - Nexus series of intelligent computing servers can support flexible networking from 16 to 512 units, with a maximum configuration of more than 4,000 GPU cards. The overall computing power exceeds the petaflop level, meeting the needs of large - scale AI training and reasoning. The T - Cluster 512 heterogeneous chip super - node product has also achieved unified compatibility with more than ten types of domestic chips, enabling chips with different architectures to work together and solving the problem of fragmentation of domestic computing power.

At the software level, the hybrid reasoning engine HICE independently developed by Teslam can establish a universal interface between different chips and algorithms, allowing AI models to run efficiently on various domestic chips without modification. Measured data shows that this solution can more than double the hybrid reasoning efficiency of heterogeneous domestic chips.

In the application implementation stage, whether it is the understanding of the complex home environment by home service robots or the precise operation of irregular workpieces by industrial robotic arms, a large amount of diverse and real 3D scene data is needed as support. In response to the common pain point of the shortage of 3D training data, Teslam has proposed the spatial intelligence base TacOS, which uses innovative algorithms to upgrade single - view images to realistic 3D representations, reducing the data acquisition threshold for spatial intelligence applications.

A major leap for embodied intelligence from virtual cognition to physical interaction lies in building a complete closed - loop of "perception - reasoning - action" capabilities in the real environment.

While providing the computing power basis, Teslam takes the AIoT intelligent agent as the key carrier connecting the digital world and the physical space. Its independently developed HALI intelligent agent has achieved four major breakthroughs in terminals such as robots and wearable devices.

At the cognitive level, the system enables the intelligent agent to obtain human - like thinking ability through end - to - end reinforcement learning. In terms of perception, the innovative spatial preference reward framework significantly improves the accuracy of environmental understanding and interaction. The memory mechanism uses knowledge graph compression technology, taking into account both long - term memory and efficient retrieval. At the collaboration level, through the parallel multi - model architecture, the best balance between response speed and execution accuracy is achieved.

Currently, the HALI system has been applied in products such as the ear - clip headphones under the BUTTONS brand and the super audio - visual robot. In the future, it will be extended to new forms such as lightweight AR glasses and portable intelligent agents, continuously improving the intelligent agent product ecosystem.

The general intelligent agent HALI and the BUTTONS SOLEMATE intelligent super audio - visual robot

As the connection between AI and the physical space becomes closer, it can be seen that based on its full - stack technology layout, Teslam has embarked on a clear evolution path: from the independent controllability of the underlying computing power to the construction of the perception and decision - making capabilities of intelligent agents, and finally achieving the deep integration of machines and the physical space.

36Kr learned that as of the end of September, Teslam's outstanding order amount had reached 2.6 billion yuan. The total number of enterprise customers increased rapidly in the first half of the year, rising from 150 in the same period last year to 212. Among them, the number of customers for the digital and intelligent business of the AI industry increased to about 171, an increase of 81 compared to the same period last year.

Teslam is also continuously promoting its international strategic layout. The company's products have now been implemented in 172 cities around the world, covering multiple countries and regions such as China, the United Arab Emirates, Singapore, and Australia, serving nearly a thousand customers.