0543 GMT - Goldman Sachs raises Cambricon Technologies' target price by 50% on the back of Chinese cloud server platforms' rising capex, China's chip-localization efforts and its own research & development investments. GS maintains a buy call on the Chinese AI chip designer but upgrades its target price to CNY1,835.00 from CNY1,223.00. Chinese inferencing demand is rising after the launch of local foundation models such as DeepSeek, GS analysts say in a note. Meanwhile, domestic clients are diversifying their channels for obtaining chips amid tariff uncertainty and data-security concerns, benefiting local chip designers, they say. Cambricon has a leading market position with rising R&D in AI chips and software. The brokerage expects the Chinese AI chip designer's 2025 net income to rise 59%. Shares are last 5% lower at CNY1,316.50. (sherry.qin@wsj.com)
(END) Dow Jones Newswires
August 26, 2025 01:43 ET (05:43 GMT)
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