Reported about 6 hours ago
Chinese investors are undeterred by an upcoming index rebalance that may result in over $1 billion in passive selling of Cambricon shares, a leading AI chip designer. Despite a brief decline following profit-taking and rebalancing concerns, Cambricon's stock has rebounded significantly, highlighting a strong belief that China's AI sector is on the rise due to government support and increased domestic innovation. Analysts remain confident that the broader rally in the AI market will continue, reflecting optimism in the potential of China's tech industry to emulate the U.S. AI boom.
Source: YAHOO