AsianFin -- Goldman Sachs said Cambricon Technologies’ robust second-quarter earnings reinforced its positive view on the Chinese AI chipmaker, lifting its 12-month price target by 14.7% to 2,104 yuan.

In a research note, analysts including Verena Jeng cited stronger-than-expected AI chip shipments, lower operating expense ratios, and accelerating cloud capital expenditure in China as key drivers. The bank raised its net income forecasts for Cambricon between 2025 and 2030, with the largest upward revision — a 34% increase — applied to this year’s projection.

Goldman’s upbeat call comes as investors are closely watching Chinese semiconductor firms’ growth prospects amid heightened global demand for AI computing power and domestic policy support.