Goldman Sachs raises Chinese AI-chip giant Cambricon’s target price by 50%,

Goldman Sachs lifted its price target on Cambricon to CNY 1,835, up from the current share price of 1,243.

The bank cited three key drivers behind the upgrade:

1. Rising capital expenditure from China’s cloud giants such as Tencent.

2. Broader diversification of chipset platforms, including developments like DeepSeek 3.1.

3. Continued investment in research and development.

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Cambricon Technologies is a Beijing-based, partially state-owned semiconductor firm

• founded in 2016 as a spin-off from the Chinese Academy of Sciences
• specializes in designing AI processors and GPGPUs for deep learning applications across cloud servers, edge devices, and intelligent terminals
• nicknamed “China’s Nvidia”