Beijing-based chipmaker Cambricon Technologies, often dubbed China’s “little Nvidia,” reported a staggering revenue jump in the first half of 2025, fueled by a domestic AI frenzy.
The company posted revenue of 2.88 billion yuan (US$403.8 million), a 4,348 per cent increase year on year and its highest since going public in 2020.
Profit also surged, reaching 1.04 billion yuan, reversing a net loss of 533 million yuan in the same period last year, according to filings with the Shanghai Stock Exchange.
Cambricon’s stock climbed 6 per cent on Wednesday to 1,408.9 yuan per share, extending a rally that has seen shares rise nearly tenfold over the past two years.
The stock has more than doubled in the last month alone, riding the wave of excitement around AI-driven market gains.
The company credited its growth to “continued market expansion and active support for the implementation of AI applications.”
The boom follows Chinese start-up DeepSeek’s announcement that its V3.1 AI model, trained on a new data format, will soon be compatible with domestic chips.
“The ascent of Cambricon highlights an important shift in China’s stock market landscape as investors moved away from consumer firms and bet on the tech sector to re-energize an economy mired in deflation and trade tensions,” a Bloomberg report said.
“Also fueling demand for the stock was a recent move by Goldman Sachs Group Inc. to raise its price target by 50 per cent on a brighter profit outlook,” it adds.