MetaX swings to profit as Chinese AI chipmakers report diverging first-half results

MetaX swings to profit as Chinese AI chipmakers report diverging first-half results GPU maker MetaX posted a net profit of 612 million yuan for the first six months, reversing a loss of 186 million yuan a year earlier Shares of Chinese artificial intelligence chipmakers are seeing mixed trading on Monday as investors digest a fresh wave of first-half earnings, highlighting a growing profitability divide among the country’s graphics processing unit (GPU) champions. The stock moves followed reports of a pivotal half-year for domestic chip designers, who are beginning to reap financial rewards from Beijing’s push for tech self-sufficiency and an aggressive national AI infrastructure buildout. MetaX, which made a high-profile debut on Shanghai’s Star Market in December, posted a net profit of 612 million yuan (US$90.9 million) for the first six months, reversing a loss of 186 million yuan a year earlier. First-half revenue jumped 44.7 per cent to 1.32 billion yuan, driven by widespread customer adoption and a sharp increase in GPU shipments, according to its stock exchange filing on Sunday evening. Founded in 2020 by a team of former executives from US chip firm Advanced Micro Devices, MetaX has emerged as one of China’s most closely watched GPU developers as domestic firms race to build alternatives to Nvidia’s AI chips. [Image text:] R:688802.SH MTA> GLM-OCR 202623 GLN 2026212 EBAIER K .688802.SH