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Chinese AI Chip Firm Cambricon to Triple Output in 2026, Targeting Nvidia's Vacated Market

In a strategic move to capitalize on U.S. export restrictions and China’s push for technological self-sufficiency, Cambricon Technologies Corp. plans to triple its AI chip production in 2026.

The Beijing-based designer aims to supply approximately 500,000 AI accelerators next year, including up to 300,000 units of its advanced Siyuan 590 and 690 chips.

This expansion targets both rising domestic demand and market share currently held by leaders like Huawei, as China accelerates efforts to replace Nvidia’s technology.

The production surge will leverage Semiconductor Manufacturing International Corp.’s advanced “N+2” 7-nanometer process, highlighting China’s growing capability in high-end semiconductor manufacturing. The move aligns with a broader trend of Chinese AI chip firms, including Moore Threads and MetaX, gaining investor attention through IPOs, as the country races to fill the void left by Nvidia in its domestic market.

China Accelerates Domestic Chip Development Amid Tech Decoupling

China is intensifying its push for semiconductor self-sufficiency, as evidenced by the aggressive expansion of local chip designers and manufacturers. This strategic shift aims to fill the significant void created by U.S. export controls, which forced industry leader Nvidia to curtail its advanced AI chip sales to the Chinese market.

Key Drivers and Government Backing:
The acceleration is fundamentally driven by national policy. Beijing is actively directing major domestic technology firms to reduce dependency on American hardware, channeling substantial state support and investment into homegrown chip design and manufacturing capabilities. This "buy Chinese" mandate is creating a protected and rapidly evolving ecosystem for local contenders.

Rise of a Domestic Ecosystem:
Cambricon: A leading AI chip designer, its expansion underscores the sector's aggressive move to capture the unmet demand for high-performance processors.
Huawei: A pivotal force, is reportedly preparing to double its output of advanced Ascend processors within the next year, signaling a major ramp-up in production capacity.
Moore Threads: Another rising star, scheduled for a public market debut in Shanghai, exemplifies the growing cohort of Chinese firms vying for dominance in the AI hardware sector.

Market Momentum:
Investor confidence in this strategic pivot is clear. On Thursday:
Cambricon’s shares rose 2.8% in Shanghai.
Semiconductor Manufacturing International Corp (SMIC), China’s top foundry, gained 3.9% in Hong Kong.
Rival Hua Hong Semiconductor Ltd. climbed 3.1%.

This parallel surge across design and manufacturing companies highlights a broad-based market belief in the sustained growth of China's independent semiconductor supply chain.

In summary, China is not merely adapting to external restrictions but is actively forging a comprehensive, state-backed semiconductor industry to secure its technological future, with clear momentum building across its corporate landscape.

Nvidia’s AI Chip Absence in China Fuels Domestic Semiconductor Opportunity

U.S. export restrictions have effectively blocked Nvidia from selling its advanced AI chips, such as the H200, to China, creating a significant opening for domestic semiconductor firms. Nvidia CEO Jensen Huang acknowledged in November that the gap would likely benefit local competitors like Huawei.

While the U.S. government evaluates whether to permit certain chip sales to China, Beijing’s willingness to allow widespread adoption of foreign AI hardware remains uncertain. In this climate, homegrown chip designers are gaining momentum.

Cambricon has emerged as a major beneficiary, reporting a 14-fold revenue surge in the September quarter. Since 2021, its market value has increased ninefold. The company is poised to capture new business from leading Chinese AI spenders, including Alibaba, in the coming years. Currently, ByteDance accounts for more than half of Cambricon’s orders, cementing its position as the firm’s largest customer.

The shift underscores how geopolitical tensions are accelerating China’s push for semiconductor self-reliance and reshaping its AI supply chain.

Investor enthusiasm is surging behind China’s homegrown GPU start-ups, underscoring a strengthening ecosystem for domestic semiconductor firms.

Moore Threads and MetaX, two Shanghai-based, fabless GPU designers, are advancing toward high-profile stock market debuts, signaling robust investor confidence in China’s AI chip ambitions.

Moore Threads is set to list on Shanghai’s STAR Market following an exceptionally oversubscribed IPO: retail demand exceeded supply by 4,000 times. The company priced its shares at ¥114.28, the highest IPO price for an A-share listing this year, resulting in a minuscule allotment rate of just 0.036%.

Meanwhile, MetaX has set its IPO price at ¥104.66 and plans to raise ¥4.2 billion, according to regulatory filings.

Both firms are emerging as key contenders in China’s drive to develop domestic alternatives to NVIDIA GPUs, aligning with Beijing’s strategic push for technological self-reliance and reduced dependence on U.S. semiconductor technology.

HIVE, A Bitcoin Mining Firm, Has Enlisted A Former Executive From Apple To Lead Its Cloud Division As Part Of A $100 Million Project.

Craig Tavares has been named President and COO of Buzz HPC, tasked with leading the growth of its GPU Cloud and HPC services.

With over two decades of experience in digital infrastructure, Tavares is set to guide the company into a burgeoning $40 billion market.

HIVE Digital Technologies, a publicly traded Bitcoin (BTC) mining company on NASDAQ under the ticker HIVE, has announced that Craig Tavares will take on the role of President and Chief Operating Officer for its Buzz HPC segment. This division specializes in GPU Cloud services and High-Performance Computing (HPC) solutions.

HIVE Appoints Former Apple Executive to Boost Cloud Computing Growth

The appointment occurs as HIVE, a provider focused on eco-friendly blockchain and AI infrastructure, seeks to expand its high-performance computing business to achieve $100 million in revenue. Tavares, who has over twenty years of expertise in digital infrastructure and cloud services, assumes the position.

"With his exceptional capabilities in leadership, entrepreneurship, and ethics, coupled with his extensive knowledge of digital infrastructure, cloud technology, and high-performance computing, he truly embodies our vision," stated Frank Holmes, Co-Founder and Executive Chairman of Buzz HPC, a subsidiary of HIVE Digital Technologies.

Tavares's professional journey includes pivotal leadership positions at leading tech firms like Apple, where he spearheaded product and program strategies for external cloud services and data centers. His experience also encompasses launching a comprehensive cloud service globally at Aptum and forging alliances with industry leaders such as Microsoft and Amazon Web Services.

The Wall Street-listed Bitcoin mining enterprise has decided to act following its earnings report for the fourth quarter, which revealed a revenue of $29.2 million and an adjusted EBITDA of $17.3 million. Although these numbers are slightly below the results from the prior year, the company has bolstered its Bitcoin reserves, now possessing 2,805 tokens valued at roughly $260.8 million.

AI and High-Performance Computing Shift

The appointment of the new executive is in line with HIVE's strategy to bolster its standing in the swiftly changing cloud computing sector. The company is currently running a sovereign AI GPU platform fueled by renewable energy, which is set to be further developed under Tavares's direction.

"Buzz is already delivering one of the most high-performing Sovereign AI GPU platforms in the industry," stated Tavares. "Our plan is to enhance it with a vertically integrated infrastructure and a range of unique HPC service offerings." A recent assessment by VanEck suggests that the shift towards High-Performance Computing (HPC) within the Bitcoin mining sector could potentially unlock nearly $40 billion in value for publicly listed mining companies.

Alongside this development, HIVE has announced the allocation of 1,090,000 Restricted Share Units (RSUs) to a selected group of employees, executives, board members, and advisors, including Tavares. These RSUs are governed by TSX Venture Exchange rules and come with a vesting period of one year. HIVE Digital Technologies is also continuing to broaden its footprint across Canada, Sweden, and soon Paraguay, with plans to boost its hash rate to 25 EH/s by September.

Major Headlines And Key Stories

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