AsianFin -- Shares of Cambricon surged 20% on Monday, closing at 848.88 yuan (approximately $122), surpassing its February high of 818.87 yuan ($118) to reach a new all-time peak.

The rally in China’s AI hardware sector boosted Cambricon’s market capitalization to about 35.5 billion yuan (around $5.1 billion), overtaking rival Hygon Information, which now stands at roughly 32.3 billion yuan ($4.6 billion).