Top mover alert: SMIC jumps more than 4% as customer Cambricon plans ramp-up of AI chips
🔥 $SMIC(00981)$ shares jump 4.5% to HKD 70.25 as of 301PM after Bloomberg reported that Beijing based Cambricon Technologies plans to rely on SMIC's latest production process known as the "N+2" 7 nanometer, to more than triple its production of AI chips in 2026
🇨🇳The ramp-up at Cambricon underscores the rapid ascent of Chinese chipmakers after Beijing began actively discouraging the use of Nvidia’s product this year, part of a longer-term effort to wean the country off US technology
📊Cambricon reported a 14-fold jump in its third quarter revenue by filling in Nvidia's void in China
🎁SMIC will invariably be a beneficiary of Cambricon's ramp-up
✳✴Trending SMIC call warrant $SMIC MB eCW260402(NAAW.SI)$ (https://warrants.com.sg/tools/livematrix/NAAW) rose 19% to SGD 0.025, almost 5 times more than SMIC's 3.9% increase as of 310PM, while trending put warrant $SMIC MB ePW260203(ONUW.SI)$ (https://warrants.com.sg/tools/livematrix/ONUW) is down 18.9% to SGD 0.030 given SMIC's share price move
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