Chinese GPU maker Cambricon's Q1 revenue hits $423 million as the country's homegrown AI chip market accelerates — Chinese chipmakers continue to leech market share from Nvidia

Cambricon posted Q1 2026 revenue of 2.89 billion yuan, up 160% year over year, with net profit rising 185% to 1 billion yuan.

MetaX also grew quickly, reporting 561.9 million yuan in revenue, up 75%, though it still remained unprofitable.

The article says Chinese AI chipmakers took more of the domestic AI server market in 2025 as Nvidia’s China share kept falling.

The trend signals faster scaling of China’s homegrown AI hardware industry and growing pressure on Nvidia’s long-held position in the market.