AI Chipmaker Cambricon’s Sales Soar 14-Fold With Nvidia Shut Out

Cambricon Technologies Corp. reported a 14-fold surge in quarterly revenue, one of the starkest signs yet of how China’s chipmakers are benefiting from a national drive to replace restricted Nvidia Corp. gear during a domestic AI development boom.

The company, which competes with Nvidia as well as Chinese leader Huawei Technologies Co., swung to a net profit of 567 million yuan ($79.6 million) in the September quarter, compared to a net loss of 194 million yuan a year ago, according to a filing to the Shanghai Stock Exchange. That’s off revenue of 1.73 billion yuan.