Cambricon Technologies, dubbed "China's little Nvidia," became the costliest stock on mainland China's equities market Thursday after reporting Wednesday that first quarter revenue rose 160% to 2.89 billion yuan ($423 million) and net profit rose 185% to 1 billion yuan, the South China Morning Post reported. Shares rose as much as 18% Thursday to nearly 1,680 yuan ($245), surpassing optical chipmaker Yuanjie Semiconductor Technology at around 1,660 yuan. SCMP attributed the surge to Beijing's tech self-sufficiency push and rising domestic AI compute demand, with Chinese cloud providers and model developers turning to local chips because of restricted access to high-end Nvidia parts. The earnings will figure into Commerce Department debates over whether further AI chip export control tightening accelerates Chinese domestic substitution rather than slowing it.
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Galbot, China's highest-valued unlisted embodied AI firm at over 20 billion yuan ($2.8 billion), released its LDA-1B world action model on April 30 with 1.6 billion parameters and an open-sourced framework, Pandaily reported. The model unifies world and action learning and demonstrates scaling behavior with heterogeneous embodied data, the report said. LDA-1B was accepted at the Robotics: Science and Systems 2026 conference. The release follows similar Chinese embodied AI open-source launches this week from Shengshu Technology (MotuBrain) and AI² Robotics (NeuroVLA).
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China's Ministry of Natural Resources said at an April 29 monthly briefing that the country holds the world's largest reserves of 14 essential minerals, including rare earths and graphite, the South China Morning Post reported. The article said the disclosure signaled Beijing's intent to use resource security as a counterweight ahead of reported Xi-Trump talks. The ministry framed the announcement around domestic resource security rather than as a trade signal, the report added. The ministry pledged to accelerate exploration through the 15th five-year plan period spanning 2026 to 2030.
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