Foreign media: China's Cambricon aims to raise 3.98 billion yuan to pursue AI chips, stock price approaches the 1000 yuan mark
China's chip company Cambricon Technology, seen as a potential competitor to NVIDIA, plans to raise 3.98 billion yuan (about 560 million USD) for AI chip development, which has been approved by the Shanghai Stock Exchange and awaits final approval from the CSRC. Over the past year, Cambricon's stock has risen more than 280%, and recently increased by 6% to 976.8 yuan, just one step away from becoming the second 1000-yuan stock in the A-share market after Kweichow Moutai.
The recent fundraising and stock price surge are driven by China's accelerated efforts to promote technological self-reliance, with clear requirements for domestic data centers to use more domestic computing chips to reduce reliance on foreign technology. Under the policy drive, demand and prospects for Cambricon in the domestic AI chip market have significantly improved, and market investment enthusiasm is high.
Original article: www.toutiao.com/article/1840787744848903/
Statement: This article represents the views of the author himself.