Cambricon, SenseTime form strategic cooperation to support China's tech self-reliance push

Group 1: Strategic Collaboration - Cambricon Technologies and SenseTime are collaborating to enhance China's self-reliance in AI infrastructure, aiming to create a new indigenous AI development paradigm [1][2] - The partnership will combine SenseTime's foundational models with Cambricon's AI processors to develop AI computing solutions and vertical enterprise services [3] Group 2: National Priorities and Market Context - The Chinese government has prioritized self-reliance in AI, encompassing integrated circuits and AI models, as part of its 15th five-year plan [2] - Cambricon, known as "little Nvidia," has seen its stock price increase fivefold over the past year, reflecting strong market interest [4] Group 3: Financial Performance - Cambricon reported a remarkable 4,348% year-on-year increase in first-half revenue, reaching 2.88 billion yuan (approximately US$404.8 million) [5] - SenseTime experienced an adjusted loss of 1.16 billion yuan in the first half, impacted by previous US sanctions [5] Group 4: Technological Advancements - SenseTime has released several foundational models, including the SenseNova V6.5, and emphasizes its strengths in computer vision technology [6]