Chinese chipmaker Cambricon Technologies reported a sharp turnaround in the first half of 2025, boosted by demand from artificial intelligence start-up DeepSeek and U.S. restrictions on advanced chip exports to China.
The partially state-owned company posted a net profit of CNY1 billion ($143.9 million) for the six months ending June, compared with a loss of CNY533 million a year earlier, Bloomberg reported. Revenue surged nearly 44-fold to CNY2.9 billion.
In the first quarter alone, Cambricon swung from a CNY227 million loss to a CNY355 million profit, according to Yicai. The company also plans to raise about CNY4 billion to expand its AI chip development.
Cambricon, which designs core processor chips for cloud servers and supplies DeepSeek, has been among the beneficiaries of Beijing’s push for domestic alternatives to U.S. semiconductors. Washington recently allowed Nvidia and AMD to resume exports of some AI chips to China under a 15% levy, but Chinese regulators urged companies to avoid U.S. products.
The shift underscores how U.S. sanctions are fueling China’s drive for self-sufficiency in advanced chipmaking, even as access to top-tier manufacturing equipment remains restricted.
Last week, U.S. Commerce Secretary Howard Lutnick drew backlash after saying Washington wanted Chinese firms to become “addicted” to American chips, comments that further strengthened calls in Beijing to back local suppliers.
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