Montage Profit Reaches Record as AI Chip Shipments Surge

Montage Technology Co.’s first-quarter profit reached a record, beating estimates, fueled by shipments of chips critical to AI infrastructure.

Net income for the Chinese semiconductor company rose 61% to 847.4 million yuan ($124 million), according to a Monday filing, beating the 706.3 million-yuan analyst estimate. The gross margin expanded to 69.8%.