Cambricon reaches new highs, denies large-scale supply to internet companies

Mars Finance News: During today’s trading session, Cambricon’s stock price rose by more than 16%, reaching a new all-time high. During the session, its market capitalization reached 965.6 billion yuan, looking toward a trillion-yuan market capitalization. On the news front, there have been recent reports about domestic internet companies procuring domestically produced computing power. Industry insiders say ByteDance is discussing with TianShuZhiXin the purchase of at least 50,000 AI chips, mainly for inference work. In addition, Huawei and Cambricon are also suppliers to ByteDance.

Separately, there have been online reports recently claiming to circulate minutes from internal communications within Cambricon. The minutes state that Cambricon’s two main models supplied to ByteDance are 580 and 690. This year’s second quarter will complete the delivery of between 120,000 and 160,000 units of the 580 model, while the 690 model is expected to be delivered in the second half of the year.

Regarding the content of the above-mentioned internal communication minutes, a representative from Cambricon’s securities affairs said this is an “online ‘small essay’.” Investors are advised to verify it, and to rely on official information instead. Recently, Cambricon has not received any internal communication activities. (First Financial)