Probabilistic Circuits (PCs) are a general framework for tractable deep generative models, which support exact and efficient probabilistic inference on their learned distributions. Recent modeling and training advancements have enabled their application to complex real-world tasks. However, the time and memory inefficiency of existing PC implementations hinders further scaling up. This paper proposes PyPC, a general GPU implementation design for PCs that improves prior art in several regards. Specifically, PyPC is 1-2 orders of magnitude faster than existing systems (including very recent ones) at training large-scale PCs. Moreover, PyPC consumes 2-5x less GPU memory, which enables us to train larger models. At the core of our system is a compilation process that converts a PC into a compact representation amenable to efficient block-based parallelization, which significantly reduces IO and makes it possible to leverage Tensor Cores available in modern GPUs. Empirically, PyPC can be used to improve state-of-the-art PCs trained on image (e.g., ImageNet32) and language (e.g., WikiText, CommonGen) datasets. We further establish a new set of baselines on natural image and language datasets by benchmarking existing PC structures but with much larger sizes and more training epochs, with the hope of incentivizing future research.