Cambricon’s third quarter profit surges 148% to US$210m amid push to replace Nvidia chips

Chinese artificial intelligence chip giant Cambricon Technologies reported a 147.7 per cent surge in third-quarter profit on Friday, as the country’s aggressive push to replace Nvidia chips continues to fuel high growth among local chipmakers. The Shanghai-listed chipmaker generated 1.4 billion yuan (US$210 million) in net profit for the three months ended September 30, up from 566.6 million yuan during the same period last year. Revenue reached 3.5 billion yuan, an increase of 104.5 per cent...