Chinese AI chipmakers gain as Beijing shifts buyers away from Nvidia
What's new: Chinese tech executives expect to spend 46% of AI accelerator budgets on local chips over the next 12 months, up from 30% now.
Chinese AI chip designers are heading into earnings season with rising orders as Beijing pushes local tech companies to replace Nvidia products with homegrown alternatives. Cambricon Technologies is expected to report sharply higher first-half revenue, while Shanghai Iluvatar CoreX Semiconductor could see sales triple and Moore Threads Technology projected growth of as much as 149%. The shift comes even after Washington recently cleared sales of Nvidia's H200 to China, with US officials saying shipments have been trivial. Huawei Technologies and Alibaba Group's T-Head are also positioned to gain share as China expands domestic chip production and a 2 trillion yuan data center buildout that is expected to rely on local suppliers for at least 80% of core technology.