China's AI chipmakers show mixed first-half results as MetaX turns profit

Chinese AI chip manufacturers are starting to see financial gains from Beijing's initiative for self-sufficiency, yet the earnings from the first half of the year highlight a disparity between those making profits and those incurring losses. MetaX, which launched on Shanghai's Star Market in December, achieved a net profit of 612 million yuan (US$90.9 million) in the first half, bouncing back from a loss of 186 million yuan the previous year. Its revenue surged by 44.7% to 1.32 billion yuan, fueled by increased GPU shipments and customer uptake. While Biren Technology managed to reduce its losses, other companies are still facing challenges. On Monday, shares fluctuated as investors processed the news, marking a significant period for domestic GPU developers benefiting from Beijing's tech self-reliance efforts and a robust national AI infrastructure expansion.