VeriSilicon’s quarterly revenue doubles on surging AI demand, self-sufficiency drive
AI computing accounted for 65 per cent of new orders in the third quarter, while new order volume rose 145.8 per cent year on year
Chinese chip designer VeriSilicon reported that its quarterly revenue more than doubled to reach a record high, as strong demand for artificial intelligence computing and Beijing’s semiconductor self-sufficiency drive boosted prospects for domestic firms.
Third-quarter revenue reached 1.28 billion yuan (US$179.7 million), up nearly 120 per cent from the previous quarter and 78.77 per cent higher than the same period last year, the Shanghai-based company said in preliminary results published on Wednesday.
The firm’s strong growth was driven by orders related to AI computing, which accounted for 65 per cent of new orders in the third quarter, VeriSilicon said. New order volume for the period rose 145.8 per cent year on year to nearly 1.6 billion yuan.
VeriSilicon also expected its quarterly losses to “significantly narrow”, the company said. The firm’s Shanghai-listed shares closed down 2.66 per cent on Wednesday before it announced the preliminary results.
Established in 2001, VeriSilicon provides “one-stop” custom silicon design services and semiconductor intellectual property (IP) licensing services.