68 h. ago Cambricon shares slump 14%, the most in 7 months, as investors lock in gains

Cambricon Technologies, the artificial intelligence chipmaker dubbed “China’s Nvidia”, tumbled on Thursday as investors took profit from one of the mainland’s most frenzied stock rallies this year. Shares of the Shanghai-listed company sank as much as 16 per cent before closing 14.4 per cent lower at 1,202 yuan, the steepest single-day decline since January 16. The stock lost 84 billion yuan (US$11.8 billion) in market capitalisation. The sharp sell-off also erased 6.9 per cent from the...

Economics

5 d. ago As US adds more semiconductor hurdles, Chinese firms could seize an opportunity

China’s drive for economic self-reliance is raising the spirits and prospects of its semiconductor industry, as insiders expect more home-grown technologies after Washington revoked waivers for some foreign-owned chipmakers’ factories in China to use US technologies in their operations. The Chinese branches of South Korean chipmakers Samsung and SK Hynix, as well as Intel Semiconductor (Dalian), will lose their fast-track status for compliance as “validated end-users”, meaning they will need to...

Politics

1 week ago Cambricon: how two ‘genius brothers’ created China’s potential rival to Nvidia

The hottest company in China right now is Cambricon Technologies, an artificial intelligence chipmaker whose stock has surged about 10-fold over the past two years, driven by expectations that it could be a serious challenger to Nvidia in the mainland market. The frenzy over Cambricon, whose stock is trading at an eye-watering trailing 12-month price-to-earnings ratio above 4,000 – compared to under 60 for Nvidia – reflects a growing belief in China that the country is on a path to develop an AI...

Politics

1 week ago Cambricon: how 2 ‘genius brothers’ created China’s potential rival to Nvidia

The hottest company in China right now is Cambricon Technologies, an artificial intelligence chipmaker whose stock has surged about 10-fold over the past two years, driven by expectations that it could be a serious challenger to Nvidia in the mainland market. The frenzy over Cambricon, whose stock is trading at an eye-watering trailing 12-month price-to-earnings ratio above 4,000 – compared to under 60 for Nvidia – reflects a growing belief in China that the country is on a path to develop an AI...

Politics

1 week ago Trump wants more investment deals like Intel’s, worrying business community

US President Donald Trump said he wants to make more investments in healthy US companies on Monday. Whether Corporate America is on board is another story. The White House announced a near-10 per cent stake in chipmaker Intel on Friday that converts government grants into an equity share. Trump doubled down on the idea of similar deals in other sectors on Monday, telling reporters at the White House: “I hope I’m going to have many more cases like it.” The administration’s approach upends a...

Economics

2 w. ago Trump says Intel has agreed to deal for US to take 10% equity stake

The United States government will take a 10 per cent stake in Intel under an agreement with the struggling chipmaker, US President Donald Trump said on Friday, marking the latest extraordinary intervention in corporate affairs. Intel, whose shares rose more than 6 per cent, declined to comment. The move marks a clear change of direction just weeks after Trump called for the resignation of the company’s new chief Lip-Bu Tan over his “highly conflicted” ties to Chinese firms. It also follows a...

Politics

2 w. ago Chipmaker Intel’s US$24 billion rally sends valuation to dot

After months of turbulence, Intel Corp bulls are finally being rewarded for their patience. But the stock’s sudden rebound comes with a worrying side effect: a valuation so high its most recent precedent is from the dotcom era more than two decades ago. Shares of the struggling chipmaker have rallied 28 per cent this month, adding about US$24 billion in market value, on reports that the US government is in talks for a potential equity stake, as well as plans for a US$2 billion investment from...

Economics

2 w. ago Chipmaker Intel’s US$24 billion rally sends valuation to dotcom levels

After months of turbulence, Intel Corp bulls are finally being rewarded for their patience. But the stock’s sudden rebound comes with a worrying side effect: a valuation so high its most recent precedent is from the dotcom era more than two decades ago. Shares of the struggling chipmaker have rallied 28 per cent this month, adding about US$24 billion in market value, on reports that the US government is in talks for a potential equity stake, as well as plans for a US$2 billion investment from...

Economics

2 w. ago Japan’s SoftBank to invest US$2 billion in Intel as part of US push

SoftBank Group agreed to buy US$2 billion in Intel stock, a move that extends its US investment effort and offers a vote of confidence in the struggling chipmaker. SoftBank will pay US$23 a share for Intel ordinary share, according to a joint statement on Monday. The agreement, which the companies described as a move to “deepen their commitment” to US chip innovation, will be subject to customary closing conditions. Intel shares jumped about 5 per cent in late trading after the announcement....

Economics