Cambricon revenue misses forecasts as chip supply limits production
The Chinese AI chipmaker retained its 2026 revenue target of at least 13.5 billion yuan despite quarterly sales falling below analysts’ expectations.
Chinese AI chipmaker Cambricon reported third-quarter revenue of 3.53 billion yuan, twice the year-earlier level but below analysts’ forecast of about 6.26 billion yuan, Bloomberg reported. The Beijing company struggled to produce enough chips during the three months to September.
Net profit increased 148% to 1.4 billion yuan. Cambricon maintained its revenue goal for 2026 at a minimum of 13.5 billion yuan, more than twice last year’s figure. The company said strong demand for AI computing power would support further growth.
Cambricon is among the Chinese suppliers seeking to replace Nvidia, which is barred by US export rules from selling its most advanced chips to China. Domestic chip designers face shortages of high-bandwidth memory as US-led sanctions prevent major suppliers from selling it to Chinese buyers. They also depend on local manufacturers such as SMIC, which lacks access to ASML’s most advanced production equipment.
Cambricon’s inventory increased by about 3.4 billion yuan during the quarter, China AI Dispatch reported, citing a company filing. Its shares have fallen by about half from their June record as the rally in Chinese AI stocks cooled.
