Cambricon(SH:688256) Zhong Guo Ji Jin Bao·2025-12-04 15:18Core Viewpoint - The market experienced a significant fluctuation in the stock price of Cambrian Technology due to misleading information circulating about the company's product and capacity forecasts, prompting the company to issue a formal statement denying these claims [1][3]. Group 1: Stock Performance - Cambrian Technology's stock surged by 2.75% at the close of trading on December 4, following rumors of a substantial increase in production capacity to fill the gap left by NVIDIA's exit from the Chinese market [4][6]. - The stock price reached 1369 CNY per share, with a total market capitalization of 577.3 billion CNY, and has seen a cumulative increase of 108% in stock price this year [7]. Group 2: Analyst Ratings and Market Outlook - Bernstein, a well-known investment firm, upgraded Cambrian Technology's rating to "outperform" with a target price of 2000 CNY, reflecting positive sentiment in the market [8]. - First Shanghai Securities highlighted the accelerating demand for AI applications and the positive outlook for major clients, indicating that Cambrian's products excel in specific AI scenarios such as large model training and inference, intelligent vision, voice processing, and recommendation systems [8]. - The domestic supply chain is making significant progress in filling the demand gap in the trillion CNY market, with domestic chips expected to capture market share in the coming years, positioning Cambrian Technology favorably in the new investment cycle for domestic computing power [8].