DeepSeek said last month that its latest artificial intelligence model is compatible with domestic AI chips that would be released soon, unleashing a surge of interest in a handful of Chinese chipmakers.
Startup chip designer Cambricon became China’s most expensive stock by price-earnings ratio as investors bet that U.S. export controls would force China to fast-track development of its own chip ecosystem to reduce dependence on Nvidia. A group of Chinese chip and AI model companies…

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