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Cambricon Q3 net profit surges 148% as China's AI chipmakers race to replace Nvidia
China's leading AI chipmaker reported Q3 revenue of 3.531 billion yuan, up 104.5% year over year, with net profit of 1.404 billion yuan.
Why it matters
Cambricon is China's flagship AI accelerator maker, seen as the key domestic company filling the gap left by US export restrictions on Nvidia. Sustained high growth shows China's home-grown AI computing ecosystem is scaling fast.
Full report
Cambricon reported third-quarter 2026 results on October 23: revenue of 3.531 billion yuan (about $529 million), up 104.47% year over year; net profit attributable to shareholders of 1.404 billion yuan, up 147.74%; non-GAAP net profit of 1.358 billion yuan, up 168.13%.
For the first nine months of 2026, revenue totaled 9.526 billion yuan, up 106.76% year over year, while net profit reached 3.715 billion yuan, up 131.49%. The company attributed the growth to continued market expansion and the rollout of AI applications.
Shares gained 5.5% to close at 932.2 yuan on Friday before the announcement. Fellow domestic AI chipmaker Hygon Information reported earlier this week: Q3 revenue of 5.9 billion yuan, up 45.5%, with net profit of 1 billion yuan, up 37.9%.
The backdrop is Washington's export restrictions, which have cut China's access to Nvidia's most advanced AI accelerators, while Beijing pushes to build a self-sufficient AI computing ecosystem — making domestic chipmakers direct beneficiaries.
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