Cambricon Technologies is a component of the CSI 300 index which itself was up 8.48%, bringing the six-day total up-move in the index to over 24%:
Cambricon is not one of the heavy weights in the index—Ping An and CATL at 2.59% and 2.42% respectively are #'s 2 and 3 but at 0.195% Cambricon is closer to the median.
From Bloomberg, September 30:
- Cambricon soars its daily 20% limit, SMIC gains more than 19%
- Beijing is amping up pressure on AI developers to go local
Chinese AI chipmaker Cambricon Technologies Corp. soared its 20% daily limit on Monday, leading a sector rally after Bloomberg News reported Beijing was stepping up pressure on domestic companies to ditch Nvidia Corp. processors for local alternatives.
Cambricon, the biggest publicly traded designer of the chips that underpin AI development, gained the maximum allowed in heavy trading. The company led a clutch of chip firms that ranked among the biggest gainers on the benchmark CSI 300 index. Semiconductor Manufacturing International Corp. surged almost 20% in Shanghai, while gear maker Naura Technology Group Co. climbed 9%.
Chinese regulators have discouraged companies from purchasing Nvidia’s H20 chips, which are used to develop and run AI models, Bloomberg News reported late Friday. That policy has taken the form of guidance rather than an outright ban, as Beijing wants to avoid hamstringing its own AI startups and worsening tensions with the US....
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