Cambricon shares rose more than 16% intraday to a record high, lifting market
value to 965.6 billion yuan, approaching 1 trillion. The move followed reports
of Chinese internet firms buying domestic AI compute: industry sources say
ByteDance is in talks with Tianshu Zhixin (09903.HK) to buy at least 50,000 AI
chips for inference, and that Huawei and Cambricon are also ByteDance suppliers.
An online-circulated internal memo claimed Cambricon supplies models 580 and 690
to ByteDance, would complete 120,000–160,000 deliveries of the 580 model in Q2,
with 690 deliveries expected in H2. Cambricon's securities affairs
representative said the memo is unverified, urged investors to rely on official
disclosures, and said the company has not held recent internal exchange events.
