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Cambricon Shares Climb as Chinese AI Chipmaker Secures $560M Private Placement
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Cambricon Shares Climb as Chinese AI Chipmaker Secures $560M Private Placement
Shares of the Chinese AI chipmaker jumped after securing regulatory approval for a private placement totaling approximately $560 million USD, following a significant increase in value last month. The company’s stock closed up 3.7% at roughly $179 in Shanghai, after earlier climbing nearly 8%. While the stock surged 124% in August, it has fallen about 20% since reaching a peak on August 28, likely influenced by the upcoming reduction of its weigh…
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