Chinese chip designers Cambricon and MetaX reported significant first-quarter revenue growth. This increase was fueled by the country's AI boom, coupled with US export risks and a push for domestic technological self-sufficiency.

Chinese chip designers Cambricon Technologies and MetaX Integrated Circuits reported substantial growth in the first quarter, as the artificial intelligence boom, lingering US export-control risks and China’s self-sufficiency push drove the country’s demand for home-grown computing power. Cambricon’s first-quarter revenue jumped 160 per cent from a year earlier to 2.89 billion yuan (US$423 million), while profit soared 185 per cent to 1 billion yuan, the company said in a filing on...