China’s AI chip drive: MetaX and Iluvatar swing to profit, as Biren narrows losses

China’s home-grown artificial intelligence chipmakers are starting to cash in on Beijing’s self-reliance drive, but a fresh wave of first-half earnings reveals a stark divide between the industry’s rising profit stars and loss-making players. Shares of Chinese AI chipmakers traded mixed on Monday as investors digested the financial updates. MetaX Integrated Circuits saw its Shanghai-listed stock rise 1.4 per cent to 684.5 yuan by the midday break after reporting a swing to profitability late on...