Chinese artificial intelligence (AI) chip giant Cambricon Technologies reported a 108 per cent surge in first-half revenue on Friday, as the firm capitalises on a massive domestic push to replace foreign AI hardware. In the second quarter, the firm’s revenue was 3.1 billion yuan, in line with the consensus estimate of 3 billion yuan predicted by a Bloomberg poll. Net profit reached 1.3 billion yuan, up from 1 billion yuan during the previous quarter. The company attributed the revenue surge to a steady increase in demand for AI computing power during the first six months. The earnings jump underscores the broader boom in China’s AI chip sector, fuelled by Beijing’s sweeping push for tech self-sufficiency as well as a monumental AI infrastructure buildout across the nation.