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Chinese chip firm Cambricon's revenue has jumped by 43x as Beijing looks to reduce reliance on foreign chips and rely on domestic alternatives instead. Cambricon posted RMB2.9 billion in revenue in its latest fiscal year, which marked a significant jump over last year's figures. The firm's profit sat at RMB1 billion, which was a marked jump over the year-ago figures of RMB530 million. Cambricon enjoys a key role in China's domestic AI chip ecosystem as it is the number two player in the industry after Huawei, whose Ascend AI accelerators continued to be the top-performing domestic AI chips.

Chinese AI Chip Sector Booms As Beijing Pushes For Self Suff

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