Chinese optical chipmaker Yuanjie Semiconductor reported an elevenfold jump in Q1 profits, reaching 179 million yuan. This growth was driven by soaring demand for computing power due to the global AI boom and China's emphasis on tech self-sufficiency.

Chinese optical chipmaker Yuanjie Semiconductor Technology reported an elevenfold surge in first-quarter profits as domestic firms capitalise on soaring demand for computing power amid the artificial intelligence boom and the country’s tech self-sufficiency drive. Net profit in the three months ended March 31 jumped 1,153 per cent year on year to 179 million yuan (US$26.2 million), while revenue grew 321 per cent to 355 million yuan, the Shanghai-listed company said in a stock-exchange filing on...