Chinese AI chip giant Cambricon Technologies announced a 108% increase in its first-half revenue, benefiting from China's extensive domestic push for AI hardware.

Chinese chipmaker Cambricon has reported its first annual profit, capitalizing on the booming artificial intelligence sector in China.

Chinese chip suppliers, including Huawei Technologies and Cambricon Technologies, are projected to capture nearly 80% of China's AI server market this year, intensifying competition for global rivals like Nvidia.

Chinese chip designers Cambricon Technologies and MetaX Integrated Circuits experienced substantial revenue growth in the first quarter, driven by the AI boom, US export control risks, and China's push for self-sufficiency.

China has added Nvidia's gaming chip to its banned list during Jensen Huang's visit, aiming to support domestic players like Huawei and Cambricon in catching up to US rivals.

Cambricon Technologies, a Chinese semiconductor designer seen as a potential alternative to US giant Nvidia, will pay its maiden dividend after posting its first full-year profit since listing in 2020. Cambricon, dubbed “little Nvidia”, planned to distribute a cash dividend of 15 yuan (US$2.2) for every 10 shares held, totalling more than 632 million yuan, according to its filing to the Shanghai Stock Exchange on Thursday. Another 20 million yuan would be allocated for share buy-backs, taking...