Macquarie says now is the 'best time' to buy Chinese AI chip stocks, names Cambricon as favorite

Analyst
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Summary · why it matters

Macquarie says now is the best time to invest in China's AI chip players, citing domestic AI development, large language model growth, and government support. The firm initiated coverage on five stocks, with Shanghai-listed Cambricon as its top pick, rated outperform with a price target of 2,060 yuan, more than 50% above Friday's close. Among Hong Kong-listed names, Macquarie prefers Biren Tech with a target of 140 Hong Kong dollars, more than double Friday's close, while rating Shanghai-listed Hygon underperform due to market share concerns. Huawei remains the dominant AI chip supplier in China, with Cambricon a distant second in shipments last year, according to IDC data cited by Macquarie.

Impact on stocks 9

Artificial Intelligence▲ · 6 stocks
Shanghai Biren Tech Co Ltd
6082
▲ PositiveCapitalrelevance

Macquarie prefers Biren Tech with a target of 140 Hong Kong dollars, more than double Friday's close.

Semiconductors▲ · 1 stocks
Others± Mixed · 2 stocks

Theme Impact 2

Off-coverage companies 1

HuaweiPrivate± Mixed
relevance

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