Cambricon Technologies reported third-quarter net profit of 1.4 billion yuan, about $210 million, up 147.7% from 566.6 million yuan a year earlier. The Shanghai-listed AI chipmaker posted the results for the three months ended September 30.
Cambricon's revenue for the quarter reached 3.5 billion yuan, up 104.5% year on year. That pace accelerated from the 75.8% revenue increase the company reported for the second quarter.
In its stock exchange filing, Cambricon attributed the revenue growth to "continuous market expansion" and its efforts to "facilitate the implementation of AI applications."
Key facts
- 01Cambricon's Q3 net profit rose 147.7% to 1.4 billion yuan (about $210M), from 566.6 million yuan a year earlier.
- 02Quarterly revenue reached 3.5 billion yuan, up 104.5% year on year.
- 03Revenue growth accelerated from a 75.8% increase in the second quarter.
- 04Morgan Stanley estimates Cambricon holds about 14% of China's AI chip market, second to Huawei.
The results track China's push to replace Nvidia chips with domestic hardware. DeepSeek, Moonshot and other Chinese AI labs have been routing training workloads onto Cambricon accelerators as US export curbs limit their access to Nvidia parts.
Morgan Stanley estimates Cambricon's share of China's AI chip market at about 14%, second only to Huawei.
AI Weekly reported that the revenue figure fell short of analyst expectations and attributed the gap to supply constraints.
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