Chen Tianshi, the 40-year-old founder and CEO of Beijing-based Cambricon Technologies, is now one of the 100 richest people in the world after his AI chip company, known in retail trading circles as “China’s Nvidia,” posted a monster third-quarter earnings report last week, including, most notably, a 14-fold jump in quarterly revenue. It reported a net profit of $79.6 million (567 million yuan), compared with a net loss of $27.2 million (194 million yuan) a year ago—a 1,332% jump.
As you might imagine, these explosive results have been a powder keg for Cambricon’s stock, which was up 15% through Wednesday, while also ballooning Chen’s net worth by about $2.4 billion. The Cambricon CEO is now worth about $24.1 billion, up from $21.7 billion last week, according to data compiled by Bloomberg and Forbes. He is now No. 94 on the list of the 100 richest people in the world.
