Reported 2 days ago
Cambricon Technologies, China's leading AI chip manufacturer and a potential rival to Nvidia, has announced it expects to achieve its first quarterly profit following a significant stock rise of over 470% in the past year. The company is anticipating a reduction in full-year losses for 2024, estimating net profits of up to 328 million yuan for the last quarter after previously posting significant losses. As China pursues semiconductor self-sufficiency amid ongoing tech tensions with the US, Cambricon's focus on developing indigenous AI chips highlights its importance in the local market.
Source: YAHOO