Cambricon Technologies · 寒武纪科技股份有限公司

Fabless

Spun out of the Chinese Academy of Sciences’ Institute of Computing Technology in March 2016; originally supplied AI silicon IP to Huawei before going inde…
Published

October 11, 2026

Chinese name: 寒武纪科技股份有限公司 (Hánwǔjì Kējì Gǔfèn Yǒuxiàn Gōngsī)

TipWhy This Matters

Spun out of the Chinese Academy of Sciences’ Institute of Computing Technology in March 2016; originally supplied AI silicon IP to Huawei before going independent, Cambricon is now one of China’s most closely watched Nvidia-alternative plays, briefly becoming China’s most valuable listed company by market cap. Added to the US Entity List on 16 December 2022 alongside YMTC and SMEE. Full-year 2025 revenue reached ¥6.497 billion with ¥2.059 billion net profit — its first clearly profitable year — and H1 2026 brought ¥5.996 billion revenue (+108.1% YoY) and ¥2.311 billion net profit (+122.6%); Q1 2026 alone was ¥2.885 billion revenue (+159.6% YoY). The stock crossed a ¥1 trillion market capitalization on 30 June 2026 (first STAR Market member to reach it), easing to roughly ¥7,500亿 after the 7 August results. Its July 2026 restricted-share incentive plan sets a 2026 revenue target of ≥¥13.5 billion (implying H2 ≥¥7.5 billion) and a cumulative 2026–28 target of ¥100 billion; supply remains the binding constraint — inventory was ¥8.248 billion (45.3% of assets) at mid-2026.

What does this firm design?

AI accelerator chips spanning cloud training/inference and edge inference, positioned as a domestic substitute as US export controls restrict Nvidia GPU access in China.

Key Facts

Category Fabless
Founded 2016
Location Beijing, Beijing Municipality
Product Focus AI accelerator chips for cloud training/inference and edge devices
Node Sophistication Not disclosed; treated by markets as China’s leading domestic alternative to Nvidia accelerators
Entity List Yes — US Commerce BIS
Last Verified Newest source dated 28 Sep 2026 (6 sources)

Design Score

4.8/5

Sources

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