Cambricon, China's AI chip leader and answer to Nvidia, predicts first quarterly profit
China's most valuable artificial intelligence (AI) company, whose stock surged more than 470 per cent in the past 12 months, predicted its first-ever quarterly profit, adding fuel to hopes among some investors that the firm could replace US chip designer Nvidia in the local market amid Beijing's self-sufficiency drive. Cambricon Technologies, which has a market capitalisation of about 300 billion yuan (US$41 billion), said in a stock filing on Tuesday that its full-year loss in 2024 was expected