China's AI chipmakers split in first-half earnings amid tech drive

China’s home-grown artificial intelligence chipmakers are starting to cash in on Beijing’s self-reliance drive, but a fresh wave of first-half earnings reveals a stark divide between the industry’s rising profit stars and loss-making players.

Shares of Chinese AI chipmakers traded mixed on Monday as investors digested the financial updates.

The stock moves followed reports of a pivotal half-year for domestic graphics processing unit (GPU) designers, who are beginning to reap financial rewards from Beijing’s push for tech self-sufficiency and an aggressive national AI infrastructure buildout.

MetaX, which made a high-profile debut on Shanghai’s Star Market in December, posted a net profit of 612 million yuan (US$90.9 million) for the first six months, reversing a loss of 186 million yuan a year earlier.

First-half revenue jumped 44.7 per cent to 1.32 billion yuan, driven by widespread customer adoption and a sharp increase in GPU shipments, according to its stock exchange filing on Sunday evening.