Cambricon Technologies, a Beijing-based chipmaker, reported a record revenue surge of 4,348% year-on-year to 2.88 billion yuan in the first half of 2025. The profit reached 1.04 billion yuan, reversing a net loss seen in 2024. The company’s shares surged 6% to trade at 1,408.9 yuan per share, continuing a rally.

Cambricon attributes the revenue surge to its market expansion and support for AI applications. Founded in 2016 by brothers Chen Yunji and Chen Tianshi, the company claimed progress in hardware and software development for AI chips. Its training software platform has expanded support for major AI models in China.

In the first half, Cambricon invested 456.5 million yuan in research and development. The company’s revenue started to take off in late 2024 amid demand for AI chips. It recorded its first quarterly profit in the fourth quarter of 2024. Cambricon was added to Washington’s trade blacklist in December 2022, restricting it from acquiring US core technology.

Alibaba owns the South China Morning Post. Cambricon has a team of 792 people, representing nearly 80% of its total workforce. The stock has seen a 10-fold increase in the past two years. The revenue surge was driven by market expansion and support for AI applications, according to the financial report.

Read more at Yahoo Finance: China’s ‘little Nvidia’ Cambricon sees 4,348% revenue surge amid AI frenzy