Chinese AI chipmaker Cambricon Technologies, often dubbed “China’s Nvidia,” has posted a 4,000% surge in revenue for the first half of 2025, fueling a $40 billion market rally.

Revenue hit RMB 2.88 billion (US $403 million), while net profit swung to RMB 1.04 billion (US $145 million) from a loss a year earlier. Investor enthusiasm doubled the firm’s stock value in recent weeks, lifting its market capitalization to nearly RMB 580 billion (US $80 billion).

The rally reflects Beijing’s push for self-sufficiency in AI hardware, with companies like ByteDance, Tencent, and AI start-up DeepSeek increasingly adopting domestic chips.

Cambricon still holds just 3% of China’s AI chip market, far behind Huawei, but its sharp turnaround underscores its growing role as a key rival to Nvidia in China’s fast-evolving semiconductor race.