China’s AI chip drive: MetaX and Iluvatar swing to profit, as Biren narrows losses

Driven by Beijing’s policies promoting self-reliance in artificial intelligence chips, Chinese local AI chip manufacturers have recently started to see profits, but there is significant differentiation within the industry. The latest half-year financial reports show that some companies have turned profitable while others are still losing money. On Monday, during market fluctuations, MetaX Integrated Circuits’ stock price rose 2.4% to 691.2 yuan after it announced a turnaround on Sunday evening; Iluvatar also became profitable. Meanwhile, although Biren Company is still facing losses, its latest financial report shows that the loss amount has decreased. After investors digested the financial updates from various companies, trading performance varied.