Chinese chip designer VeriSilicon has seen its quarterly revenue more than double, reaching a record high driven by strong demand for artificial intelligence computing and efforts towards semiconductor self-sufficiency in China. In the third quarter, the company’s revenue soared to 1.28 billion yuan (approximately US$179.7 million), marking an increase of nearly 120% from the previous quarter and a 78.77% rise compared to the same period last year. This growth was largely fueled by AI computing orders, which made up 65% of new orders in the quarter. The volume of new orders also saw a significant increase of 145.8% year on year, reaching nearly 1.6 billion yuan. VeriSilicon anticipates a substantial reduction in its quarterly losses. Established in 2001, the company specializes in custom silicon design and semiconductor IP licensing services.
Has VeriSilicon’s quarterly revenue surged due to AI demand and self-sufficiency efforts?
