CNBC AI News, August 17 – Cambricon, a Chinese AI chip company often dubbed the “domestic NVIDIA,” has announced that its nearly RMB 4 billion (approximately $550 million USD) private placement offering has been greenlit by the Shanghai Stock Exchange (SSE).
Cambricon stated that it has received the SSE’s review opinion regarding its application for issuing A-shares to specific targets, confirming compliance with issuance, listing, and information disclosure requirements. The application will now be submitted to the China Securities Regulatory Commission (CSRC) for registration.
The fixed increase plan aims to raise a total of no more than RMB 3.985 billion. The funds will primarily be allocated to projects focused on chip platforms and software platforms for large-scale AI models, as well as to supplement working capital.
Cambricon’s main business overlaps with NVIDIA’s in the AI accelerator card market. The company’s stock price has seen a significant surge recently, once reaching RMB 985, with a market capitalization exceeding RMB 400 billion (approximately $55 billion USD). While there has been some pullback this week, its market capitalization remains near RMB 390 billion.
According to the company’s financial reports, Cambricon’s revenue in the fourth quarter of 2024 saw substantial year-on-year and quarter-on-quarter increases, and the net profit attributable to the parent company turned profitable.
In the first quarter of 2025, Cambricon’s revenue increased by a staggering 4230.22% year-on-year, while net profit attributable to the parent company increased by 256.82%. Notably, the company achieved its first-ever positive quarterly non-net profit after deductions.
The company’s business is primarily divided into three areas: cloud-based product lines, edge product lines, and IP licensing and software. The cloud product line offers cloud AI chips, accelerator cards, training servers, and other solutions, covering both model training and inference functions, and has evolved to the Siyuan 590 series.
The edge product line, mainly based on the Siyuan 220, primarily serves edge computing scenarios such as smart manufacturing and smart homes.
IP licensing and software mainly include the Cambricon-1-based terminal intelligent processor IP and the basic software development platform Cambricon Neuware, with hardware and software synergizing to create a high-quality ecosystem.
Original article, Author: Tobias. If you wish to reprint this article, please indicate the source:https://aicnbc.com/7375.html
