Nano Labs
Nano Labs is a Nasdaq-listed fabless chip designer developing high-performance computing ASICs (Cuckoo and Darkbird series) and AI hardware products (iPollo ClawPC) for Web 3.0, metaverse, and autonomous AI agent applications, alongside a substantial BNB cryptocurrency treasury reserve strategy.
- Company typePublic
- Founded2021
- HeadquartersHangzhou, China
- Headcount101–250
- GTM typeB2B
- OfferingHardware or Manufacturing
What Nano Labs does
Nano Labs Ltd is a Cayman Islands-incorporated, Nasdaq-listed (ticker: NA) fabless integrated circuit design company founded in 2021 with R&D operations in Hangzhou, China and corporate presence in Hong Kong. The company designs high-performance computing chips, including the Cuckoo series (2.5D memory intensive supercomputer chips with 2Tbps bandwidth) and the Darkbird series, targeted at Web 3.0, metaverse, and high-throughput computing workloads. The product portfolio has expanded to include the FPU3.0 ASIC architecture with 3D DRAM stacking (launched December 2024), which the company reports delivers a fivefold power efficiency improvement over its predecessor, and the iPollo ClawPC A1 Mini (launched March 2026), a dedicated hardware device designed to run the OpenClaw open-source autonomous AI agent system for gaming, content creation, and smart office environments.
Nano Labs operates a B2B, quote-based enterprise sales model selling chips and AI hardware directly to Web 3.0 infrastructure providers, AI companies, and metaverse-focused businesses, with a distribution layer including AI infrastructure partnerships (e.g., a non-binding MOU with ALT5 Sigma for North American AI data centers). In parallel, the company has built a substantial cryptocurrency reserve strategy, holding 126,662 BNB tokens (~$112 million) as of December 31, 2025 with stated ambitions to hold up to 10% of BNB circulating supply, financed in part by a $500 million convertible notes deal announced in June 2025. Additional revenue initiatives include the NBNB Program for real-world asset (RWA) tokenization on BNB Chain, a CNH-pegged stablecoin initiative approved by the Kyrgyz Republic, and a minority investment in Hangzhou Weiheng Technology (an AI ASIC chip startup with DeepSeek-compatible products).
The company generated $2.7 million in Q4 2025 revenue and reported $19.6 million in Q4 2025 net income, with the latter appearing driven primarily by crypto asset appreciation rather than core chip operations. Q4 2025 also represented a turnaround from a $4.1 million gross loss in the prior-year period. Nano Labs has raised capital through multiple channels, including a 2021 round led by Yongwan Capital and Hashkey, a $5 million registered direct offering (April 2024), a $36.25 million private placement (December 2024), and a $45 million At-The-Market agreement (August 2025), before uplisting to the Nasdaq Global Market in September 2025.
Nano Labs firmographics
Firmographics- Name
- Nano Labs
- Legal name
- Nano Labs Ltd
- Website
- https://nano.cn
- Company type
- Public
- Founded year
- 2021
- Operating status
- Operating
- Headcount range
- 101–250 employees
- Short description
- Nano Labs is a Nasdaq-listed fabless chip designer developing high-performance computing ASICs (Cuckoo and Darkbird series) and AI hardware products (iPollo ClawPC) for Web 3.0, metaverse, and autonomous AI agent applications, alongside a substantial BNB cryptocurrency treasury reserve strategy.
- Ownership category
- akta.pro rank
Nano Labs industry classification
Industry- Product category
- High-Performance Computing Chips
- NAICS
- Semiconductor and Other Electronic Component Manufacturing (33441)
- SIC
- Electronic Computers (3571)
- akta.pro primary industry
- Compute & Acceleration ICs (CPU/GPU/AI/FPGA/ASIC) (HDAHABAC)
- akta.pro secondary industries
- Networking & Data Center Silicon (Switch/NIC/DPU/SerDes) (HDAHABAB), AI Hardware IP & Chiplet/Packaging for Accelerators (EDA/IP, advanced packaging) (HDAAAAAL)
Keywords
Where Nano Labs is headquartered
LocationHeadquarters
- HQ city
- Hangzhou
- HQ country
- China
- HQ region
- Asia
Offices2 records
Markets served
Nano Labs business model
Business model- GTM type
- B2B
- Offering type
- Hardware or Manufacturing
- Cost components
- Technology or R&D, Personnel, Supply Chain, Marketing or Sales, Operations
Revenue model
- Chip and Hardware Sales: Sale of high-performance computing chips including Cuckoo and Darkbird series, and AI hardware products like the iPollo ClawPC A1 Mini. Revenue from integrated circuit design and sales to enterprise customers.
- Crypto Reserve Strategy: Company maintains significant cryptocurrency holdings (BNB, BTC) as strategic reserves. Holdings have grown to over 130,000 BNB tokens valued at approximately $112 million. Generates returns through appreciation of crypto assets.
- AI Infrastructure and Services: Revenue from AI data center infrastructure, Agent Cloud, and AI-native payment systems through partnerships and potential future collaborations.
- RWA Infrastructure: Real World Assets infrastructure and tokenized U.S. equities initiatives, including the NBNB Program for RWA tokenization on BNB Chain.
Go-to-market motion2 records
Distribution channels3 records
Marketing channels5 records
Nano Labs product offering
Product offeringCore offering
Nano Labs is a fabless integrated circuit design company that designs and sells high-performance computing chips, including the Cuckoo series (2.5D memory intensive supercomputer chips with 2Tbps bandwidth) and Darkbird series, alongside AI hardware products such as the iPollo ClawPC A1 Mini dedicated device. The company combines proprietary ASIC architectures (FPU3.0 with 3D DRAM stacking) with the open-source OpenClaw AI agent platform to deliver integrated silicon-to-software solutions for Web 3.0, metaverse, AI agent, and edge computing applications.
Product overview
Nano Labs is a fabless integrated circuit design company offering a portfolio of high-performance computing chips and AI solutions. The core product lineup includes the Cuckoo Chip series (Cuckoo 1.0 and Cuckoo 2.0) featuring 2.5D memory intensive supercomputer chips with up to 2Tbps bandwidth for high throughput computing, and the Darkbird Chip series (Darkbird 1.0) for high performance computing. Under the iPollo sub-brand, the company offers the iPollo ClawPC A1 Mini hardware device designed to run the OpenClaw autonomous AI agent system. The company also developed the FPU3.0 ASIC architecture with advanced 3D DRAM stacking technology. Together, these products form an integrated ecosystem spanning from silicon chips to AI hardware and software platforms for metaverse and AI agent applications.
Differentiator
Problem solved
Functional benefit
Brands
- iPollo: Hardware brand for AI products including iPollo ClawPC A1 Mini and computing solutions
- Cuckoo Chip
- Darkbird Chip
Products and services
- Cuckoo 1.0 Chip High throughput computing chip designed for memory-intensive applications, offering 2Tbps bandwidth, targeted at metaverse ecosystem infrastructure providers.
- Cuckoo 2.0 Chip Next-generation 2.5D memory intensive supercomputer chip with high bandwidth capabilities for demanding computing workloads.
- Darkbird 1.0 Chip High performance computing chip designed for demanding computational tasks and intensive workloads.
- iPollo ClawPC A1 Mini Dedicated hardware device designed to run the OpenClaw autonomous AI agent system, targeting gaming, professional content creation, and smart office environments through localized AI functionality.
- FPU3.0 ASIC Architecture ASIC architecture featuring advanced 3D DRAM stacking technology delivering a fivefold increase in power efficiency over its predecessor.
- OpenClaw AI Agent System Open-source autonomous AI agent platform targeting gaming, professional content creation, and smart office environments, designed to run on iPollo ClawPC hardware.
Quantifiable outcome
- 5x power efficiency improvement with FPU3.0 ASIC architecture over predecessor
- +2 more outcomes
Companies that use Nano Labs
Customer profileSegments3 records
Ideal customer profiles3 records
Nano Labs technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
AI capability3 records
Feature6 records
Nano Labs partnerships and signals
Strategic signalPartnerships
Two partnerships are on record, tiered core and minor.
- ALT5 Sigma CorporationcoreNano Labs and ALT5 Sigma signed a non-binding MOU for a 90-day evaluation period to jointly explore establishing AI data centers, Agent Cloud, and AI infrastructure in North America. The partnership combines ALT5's global payments and settlement infrastructure with Nano Labs' expertise in high-performance computing and chip design. A joint working group will assess technical feasibility and commercial viability across three workstreams: AI data centers, Agent Cloud, and AI-native payments.
- Hangzhou Weiheng TechnologyminorNano Labs made a strategic investment acquiring a 5% stake in Hangzhou Weiheng Technology, an AI ASIC chip startup. Weiheng Technology develops AI-focused compute-storage chips for edge computing and large AI models, with products compatible with DeepSeek's models.
Scale indicators10 records
Recent moves7 records
Expansion highlights7 records
Nano Labs competitors and assessment
Company assessmentEmerging players
- Tenstorrent: Emerging fabless AI chip designer (Grayskull/Wormhole/Blackhole) with a RISC-V-based, chiplet-oriented roadmap. Comparable as a custom-silicon AI compute company focused on performance-per-watt and open ecosystem, overlapping with Nano Labs' HPC/AI positioning.
- Groq: Emerging AI inference chip company using LPU architecture to deliver low-latency, energy-efficient inference. Comparable as an emerging fabless AI silicon specialist targeting cost- and energy-efficient inference at data-center scale.
- Cerebras Systems: Emerging AI compute company building wafer-scale accelerators and AI infrastructure appliances. Comparable as a specialist AI-hardware challenger competing for inference and training workloads against general-purpose GPU incumbents.
- Positron: Emerging AI inference hardware company targeting memory-bandwidth-bound transformer workloads. Comparable to Nano Labs as another emerging player pursuing high memory throughput and inference efficiency rather than general-purpose training silicon.
Broad incumbents
- NVIDIA Corporation: Dominant incumbent in GPUs and AI accelerators (H100/B200, Grace, NVLink ecosystem). Comparable as the benchmark ASIC/GPU competitor that Nano Labs' Cuckoo and FPU3.0 architectures are positioned against in HPC and AI inference.
- Advanced Micro Devices (AMD): Broad incumbent offering CPUs, GPUs (MI300/MI325), and adaptive SoCs with an integrated AI platform (ROCm). Comparable as a large incumbent in compute and AI accelerators whose product roadmap and pricing discipline directly shape the opportunity set for emerging ASIC peers like Nano Labs.
Direct peers
- Canaan Inc. NASDAQ-listed fabless designer of ASIC chips (originally for Bitcoin mining, expanding into AI compute). Most directly comparable to Nano Labs as a publicly traded, China-rooted fabless ASIC house pivoting from crypto mining into AI/HPC.
- Ebang International Holdings: China-rooted, publicly listed designer of ASIC chips historically for crypto mining. Comparable as a small-cap, China-based fabless ASIC house with adjacent crypto exposure to Nano Labs.
Others
- MicroStrategy Incorporated: Public company whose equity thesis is anchored to a large, concentrated cryptocurrency (Bitcoin) treasury. Comparable as the closest analog to Nano Labs' BNB-treasury-as-business-model strategy, even though core products differ.
Regional players
- Bitfarms Ltd. Public crypto-infrastructure operator (mining + HPC repurposing). Comparable as a publicly listed, BNB-chain-adjacent crypto/HPC player that overlaps with Nano Labs' Web3-and-AI infrastructure narrative, though primarily operating rather than designing silicon.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks7 records
Key highlights7 records
Customer concentration
Nano Labs social profiles
Digital presenceNano Labs financial estimates
Financial estimateRevenue estimate
Valuation estimate
Nano Labs leadership team
Management profileNumber of profiles
Profiles3 records
Nano Labs subsidiaries and ownership
Company hierarchySubsidiaries2 records
Nano Labs funding detail
Funding detailFunding overview
Funding rounds8 records
Investors3 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Nano Labs M&A and investment
M&A and investmentM&A
Investments4 records
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Nano Labs
What does Nano Labs do?
Nano Labs is a fabless integrated circuit design company that designs and sells high-performance computing chips, including the Cuckoo series (2.5D memory intensive supercomputer chips with 2Tbps bandwidth) and Darkbird series, alongside AI hardware products such as the iPollo ClawPC A1 Mini dedicated device. The company combines proprietary ASIC architectures (FPU3.0 with 3D DRAM stacking) with the open-source OpenClaw AI agent platform to deliver integrated silicon-to-software solutions for Web 3.0, metaverse, AI agent, and edge computing applications.
Is Nano Labs a public or private company?
Nano Labs is a public company. It is classified as public and is currently operating.
When was Nano Labs founded?
Nano Labs was founded in 2021. It employs 101 to 250 people.
Where is Nano Labs based?
Nano Labs is headquartered in Hangzhou, China, in the Asia region.
How does Nano Labs make money?
Four revenue lines are on record. Chip and Hardware Sales are the primary driver. The others are crypto Reserve Strategy, AI Infrastructure and Services and RWA Infrastructure.
Who are Nano Labs's main competitors?
Emerging players on record are Tenstorrent, Groq, Cerebras Systems and Positron. Broad incumbents are NVIDIA Corporation and Advanced Micro Devices (AMD). Direct peers are Canaan Inc. and Ebang International Holdings. MicroStrategy Incorporated is listed as an others. Bitfarms Ltd. is listed as a regional player.
Does Nano Labs have an API?
No public API is recorded for Nano Labs.
What industry is Nano Labs in?
Nano Labs's product category is High-Performance Computing Chips. Its primary akta.pro industry code is HDAHABAC, Compute & Acceleration ICs (CPU/GPU/AI/FPGA/ASIC), with a secondary code of HDAHABAB, Networking & Data Center Silicon (Switch/NIC/DPU/SerDes). Its NAICS code is 33441 and its SIC code is 3571.