Cambricon reported Q1 revenue more than doubled to 2.88 billion yuan ($421 million) from 1.11 billion yuan, while net income rose to 1.01 billion yuan from 356 million yuan. Growth is driven by demand for domestic chips as self-sufficiency efforts intensify. Cambricon is competing with Huawei Technologies Co. to replace products from Nvidia Corp. and Advanced Micro Devices Inc. amid US export curbs. Despite entity list restrictions and weaker performance versus US peers, demand remains strong, w

Cambricon reported Q1 revenue more than doubled to 2.88 billion yuan ($421 million) from 1.11 billion yuan, while net income rose to 1.01 billion yuan from 356 million yuan. Growth is driven by demand for domestic chips as self-sufficiency efforts intensify. Cambricon is competing with Huawei Technologies Co. to replace products from Nvidia Corp. and Advanced Micro Devices Inc. amid US export curbs. Despite entity list restrictions and weaker performance versus US peers, demand remains strong, with output expected to surge and shares doubling over the past year.