China’s tech industry hails Beijing’s AI blueprint as local chip, server makers set to gain
The State Council has set a goal of achieving an adoption rate of intelligent devices and AI agents of at least 70 per cent by 2027
China’s tech industry has hailed Beijing’s latest strategy to widely apply artificial intelligence to economic and social enterprises amid hopes the move could boost market prospects for local suppliers of chips, servers and AI solutions.
China’s AI ecosystem, which was mainly supported by domestic suppliers, was set to “prosper faster with both policy and technological advancements”, according to a Wednesday research note by Kaiyuan Securities.
Ping An Securities analysts wrote in a note on Wednesday that industries to facilitate computing capacity were “poised to benefit significantly”, while “the semiconductor sector, as the core hardware, will usher in new growth opportunities”.
The stock price of Chinese graphics processing unit (GPU) maker Cambricon Technologies gained another 3.2 per cent on Wednesday after it reported a 4,348 per cent surge in revenue for the first half of the year.
Separately, Thunder Software Technology gained 11.7 per cent while Zhongji Innolight gained 3.5 per cent. In Hong Kong, SenseTime Group gained 8.9 per cent on Wednesday while 4Paradigm’s shares were up 5.8 per cent.