Cambricon Rides China AI Boom to Post Its First Annual Profit

Cambricon Technologies Corp. reported its first-ever annual profit after Beijing encouraged China’s leading artificial intelligence developers to adopt locally made chips given restrictions on Nvidia Corp.

Net income reached 2.1 billion yuan ($306 million), just shy of analyst estimates, compared with a 452 million-yuan loss in 2024, the company said in a statement Thursday. Full-year revenue surged to 6.5 billion yuan from 1.2 billion yuan.