Chinese AI Chip Firms Report Major Revenue Gains Amid Ongoing Financial Losses in 2025

In 2025, Chinese AI chip manufacturers Biren Technology and Iluvatar CoreX reported substantial revenue increases following their public listings earlier that year. Biren's annual revenue reached 1.03 billion yuan, representing growth of over 200% compared to the previous year, while Iluvatar CoreX saw its revenue rise by approximately 92% to the same amount. Despite these significant gains, both companies continued to operate at a loss, with Biren reporting a deficit of 16.5 billion yuan and Iluvatar CoreX showing losses of 1 billion yuan. The revenue expansion was attributed to broader adoption of their general-purpose graphics processing units, with Biren achieving volume production and shipment of its BR106 and BR166 chips, and Iluvatar CoreX reporting a 168.5% increase in GPU shipments. This development occurs within China's broader initiative to enhance domestic chip production and reduce reliance on foreign technology, particularly as U.S. competitor Nvidia attempts to re-enter the Chinese market with its H200 processors. Additional Chinese semiconductor firms, including Cambricon Technologies, Moore Threads, and MetaX Integrated Circuits, also experienced strong revenue performance in 2025, driven by increasing demand for locally produced computing components in artificial intelligence data centers.