According to Bloomberg, Cambricon Technologies’ first-quarter revenue rose to 2.9 billion yuan ($421 million) from 1.1 billion yuan ($162 million) a year earlier, while net income increased to 1 billion yuan ($148 million) from 356 million yuan ($52.1 million). The Chinese AI chipmaker is benefiting from Beijing’s semiconductor self-sufficiency initiative as US export curbs limit China’s access to advanced chips from Nvidia and AMD.
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