China’s Cambricon doubles in 2025 on explosive AI chip growth
Cambricon Technologies' stock has surged 123% this year, buoyed by a 4,000% jump in H1 revenue to 2.88 billion yuan and record profits. The Nvidia rival is gaining from US chip curbs and China's AI demand. Once loss-making, Cambricon is now profitable, briefly topping Kweichow Moutai as China's most valued stock. Shares rose 8% on Thursday.