300倍“市梦率”之上，谁在将寒武纪推向中国“英伟达”？

Core Viewpoint - The article discusses the recent rise of Cambrian, which has surpassed Kweichow Moutai to become the new "king of stocks" in the A-share market, raising questions about whether China can produce its own "NVIDIA" in the AI era [2][14]. Group 1: Cambrian's Stock Performance - Cambrian's stock price surged by 15.73% on August 28, reaching 1587.91 CNY per share, with a trading volume exceeding 26 billion CNY, although its market capitalization is only 664.3 billion CNY, about one-third of Kweichow Moutai's [2][3]. - The stock has shown remarkable growth, with a monthly increase of over 100% and a cumulative rise of over 2500% in 2023 [5][9]. - Cambrian's market capitalization has exceeded 600 billion CNY, marking a significant shift in the A-share market narrative from consumer goods to AI computing power [6][9]. Group 2: Market Dynamics and Comparisons - The article highlights the historical context of stock kings, noting that Kweichow Moutai was the dominant player for a decade, with its peak price reaching 2437 CNY per share in 2021 [4][5]. - Cambrian's rise is attributed to a combination of index support, institutional interest, and a shift in market narrative towards AI computing power [4][6]. - The article draws parallels between Cambrian and NVIDIA, suggesting that Cambrian's trajectory mirrors NVIDIA's past, with both companies experiencing rapid stock price increases and potential valuation pressures [11][14]. Group 3: Financial Performance and Investor Sentiment - Cambrian reported a revenue growth of 4347.8% in the first half of 2025, achieving a net profit exceeding 1 billion CNY, which has helped alleviate skepticism about its profitability [9][10]. - High-profile investors and funds have increased their holdings in Cambrian, indicating strong market confidence in its future prospects [9][10]. - Goldman Sachs has raised Cambrian's target price to 1835 CNY, citing increased capital expenditure in cloud computing and diversified chip platforms as key drivers [10].