On the morning of May 20, 2026, Cambricon’s stock price experienced a remarkable surge of over 5%, propelling its total market value to exceed 860 billion yuan for the very first time and achieving an all-time high. It has emerged as the key driver bolstering the A-share chip industry chain, with associated companies like MetaX shares also witnessing a simultaneous uptick in their stock prices. Over the past month, Cambricon’s stock price has been on a rapid ascent, with its market value reaching 716.8 billion yuan and hitting the daily limit on April 30. By May 20, its market value had skyrocketed to 860 billion yuan, with trading volume consistently leading the market.

The surge in performance stands as the primary catalyst behind the upward trajectory of its stock price. The company reported significant growth in both revenue and net profit in the first quarter, and its operating cash flow turned positive. The SiYuan 590 chip has been widely adopted by cloud service providers, the penetration rate of domestic computing power chips has risen, and orders have been secured until 2027. These factors have prompted Goldman Sachs to raise its target price for Cambricon. Nevertheless, Cambricon’s high valuation has also ignited discussions in the market, with its dynamic price-to-earnings ratio reaching 263 times, significantly surpassing the industry average.