Ge Weidong has made a fortune of 20 billion yuan from investing in MooreThreads and has started to "snap up" physical AI companies.

Ge Weidong, who just made a book profit of over 20 billion yuan from the capital feast of Muxi's listing on December 17th, has made another move.

On December 18th, Ge Weidong invested in 51WORLD, known as the first stock in physical AI. This investment really surprised me: Did this famous individual stock speculator and private equity tycoon invest in 51WORLD because he made too much money from Muxi and got overconfident, so he started "throwing money" around?

Of course not!

As the founder of Shanghai Chaos Investment, Ge Weidong is an experienced player in the capital market. His stock market investments cover A-shares, H-shares, and US stocks, focusing on sectors such as TMT, advanced manufacturing, pharmaceuticals, and emerging consumption.

He (including his affiliated Chaos Investment) follows this principle when investing in the stock market - growth is always the theme. "Whether the sector a company is in can achieve continuous growth and has sufficient room for expansion is the primary consideration for investment. After determining the sector, we focus on analyzing the company's position and competitive advantages within the sector."

He emphasizes investing in "great changes." Technological progress and social development have brought about huge changes in people's lifestyles and corporate operating models, leading to explosive growth in some industries. "We should detect the investment opportunities derived from these changes."

Let's take a look at Muxi, which he invested in, based on the above "Ge's investment" rules:

Sector space and growth rate: Muxi, known as the second domestic GPU stock, is in the GPU sector. Frost & Sullivan predicts that the scale of the Chinese GPU market will soar from 142.5 billion yuan in 2024 to 1.34 trillion yuan in 2029, with a CAGR of 53.7% from 2025 to 2029. The "Made in China 2025" initiative aims to achieve a 70% self-sufficiency rate in the domestic integrated circuit market by 2025. High market demand + policy dividends have created a huge market space and high growth for domestic GPUs. Ge Weidong first invested in Muxi in July 2022 and then made two additional capital injections in February and March 2025 to acquire a 6.73% stake (after listing). Based on Muxi's closing price of 829.9 yuan per share on December 17th, the book value of his shares is 22.356 billion yuan. After deducting his investment cost, the book return exceeds 20 billion yuan.

Company position and competitive advantages: Muxi and Moore Thread are known as the two stars of domestic GPUs and are comparable to NVIDIA in China. Muxi's founding team comes from AMD and has rich experience in developing a large number of mature GPUs. This ensures that the huge R & D investment (in the order of billions) can result in stable product output. These products are designed for data centers and high - performance computing, and can achieve full - stack self - development, covering the entire chain from instruction sets, architectures, IPs to software stacks. By the end of 2024, the cumulative sales of Muxi's GPUs had exceeded 25,000 units, and they had been deployed on a large scale in national - level intelligent computing platforms and operator networks. Muxi's revenue soared from 426,400 yuan in 2022 to 743 million yuan in 2024.

More importantly, domestic GPUs represented by Muxi and Moore Thread will contribute to the explosive growth of the AI market in China and even globally, enabling Chinese large - scale models, intelligent agents, humanoid robots and other products to be equipped with "Chinese chips" and accelerating the entry into the physical AI era. This will bring "great changes" to people's lives and corporate operations in China and globally. The occurrence of such great changes, of course, not only requires high - performance GPUs but also physical AI infrastructure providers like 51WORLD. Following this logic and looking for derivative investment opportunities in the upstream and downstream, it is not surprising that Ge Weidong found and invested in 51WORLD.

Looking at 51WORLD according to Ge's investment rules, it has many highlights:

Sector space and growth rate: The physical AI sector that 51WORLD is in has a larger space than the GPU sector. Huang Renxun, the founder of NVIDIA, asserted that the next wave of AI will be physical AI. When AI is deeply integrated into real - world industries such as manufacturing, transportation, energy, and logistics and becomes the fundamental driving force for the operation of the real world, the value space of physical AI could reach the order of 50 trillion US dollars. Take the well - known humanoid robot market as an example. A report from Morgan Stanley believes that the market scale of humanoid robots will reach 5 trillion US dollars by 2050.

Company position and competitive advantages: For physical AI to be truly implemented, three core elements are required: "synthetic data - spatial intelligence model - simulation training platform". As one of the few companies globally with all three elements of Physical AI and a complete product system, 51WORLD has become the core builder of physical AI infrastructure.

More importantly, 51WORLD is not only strong in technology and platforms but has also served over 1,000 corporate customers in 19 countries and regions, covering more than ten industries and fields such as cities, industrial parks, rural areas, water conservancy, water utilities, industry, energy, real estate, healthcare, and education. It is the only company in the Chinese Physical AI industry that can provide full - link solutions. This makes Ge Weidong believe that 51WORLD is not just telling a story.

Private equity tycoons like Ge Weidong generally won't invest in a company that only has advanced technological concepts and products but no large - scale revenue. According to the prospectus, 51WORLD's revenue increased from 170 million yuan in 2022 to 287 million yuan in 2024, with a compound annual growth rate of 30.02%. In the first half of 2025, it achieved revenue of 53.82 million yuan, a year - on - year increase of 62%.

51WORLD's technology and platform are leading in the physical AI sector. It has served a large number of customers and brought direct benefits to them (improving the R & D efficiency of physical AI - related technologies and products and reducing costs) and achieved large - scale revenue in the order of hundreds of millions. Such a target obviously meets Ge Weidong's investment rules, so it is no surprise that it has won his real - money investment.

As an observer in the technology industry, I can't help but remind investors that they can consider following Mr. Ge to buy 51WORLD stocks. Don't you see that those who followed Mr. Ge to invest in Muxi could make a profit of 347,700 yuan by buying one lot (500 shares) at the issue price of 104.66 yuan per share and selling at 800 yuan per share. The issue price of 51WORLD is only 30.5 Hong Kong dollars per share. If you get a winning lottery ticket, you should also get a generous return.

As an investment tycoon, Ge Weidong can of course see the challenges that 51WORLD is currently facing: high accounts receivable and large R & D investment (such as in developing world models). But we all know that this is a characteristic of 2G and 2B technology companies. They need to serve government and corporate customers, and these customers usually have longer payment cycles but lower bad - debt rates. As the first stock in physical AI, 51WORLD needs large capital expenditures on R & D if it wants to be more valuable (have a higher market value) in the future.

I learned that after 51WORLD raised funds (731 - 841 million Hong Kong dollars) from investors like Ge Weidong in this round of its H - share listing, on the one hand, it will continue to increase R & D investment, focusing on the R & D upgrading and product matrix expansion of its three core businesses, 51Aes, 51Sim, and 51Earth, to consolidate its position as the first stock in physical AI; on the other hand, it will expand globally, strengthen global market development and ecological cooperation, form both domestic and international markets, and increase its revenue scale.

This article is from the WeChat official account "Blue Shark Finance Club" and is published by 36Kr with permission.