Cambricon’s revenue doubled to 3.53B yuan in the third quarter, well short of the 6.26B analysts expected, Bloomberg reported. Profit rose 148%, and the company kept its 2026 target. Chinese AI chipmakers face shortages of high-bandwidth memory and limited access to advanced manufacturing.

Cambricon, one of China’s main makers of AI chips, missed sales forecasts in its latest quarter as it struggled to make enough chips, Bloomberg reported . Revenue doubled to 3.53B yuan ($529M) in the three months to September, but analysts had expected about 6.26B yuan.

Net profit rose 148% to 1.4B yuan. Cambricon said it expects to keep growing on strong demand for AI computing power. It kept its target of at least 13.5B yuan in revenue for 2026, more than double last year’s.

The Beijing company is one of several Chinese firms trying to replace Nvidia, whose most advanced chips can’t be sold to China under US export rules.…