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Cambricon revenue jumps 108% in first half on China AI chip demand

First-half revenue rose to 6.0 billion yuan, and net profit climbed to 2.3 billion yuan after the company said demand for AI computing power increased during the period.

Reported · Written up by our desk · China

Cambricon Technologies reported a 108.0% year-on-year surge in first-half revenue as China’s drive to replace foreign AI hardware boosted demand for AI computing power, according to a stock exchange filing reviewed by SCMP Economy.

For the six months ended June, the company said revenue reached 6.0 billion yuan, while profits climbed 122.6% year on year to 2.3 billion yuan.

In the second quarter, revenue came in at 3.1 billion yuan, near a Bloomberg poll consensus of 3.0 billion yuan, and net profit totaled 1.3 billion yuan, up from 1.0 billion yuan in the prior quarter.

The company attributed the rebound to steady demand for AI computing power and said it is leveraging its AI chip capabilities through deeper cooperation with enterprises in the finance and internet sectors, amid US export controls that limit access to advanced accelerators from firms like Nvidia.

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