Cambricon’s shares [SHA: 688256] surged nearly 10% to over CNY1,461 (USD204) apiece during the afternoon trading session, surpassing Kweichow Moutai's to become China's most valuable private company. The Chinese chip startup’s stock more than doubled this month and surged 2,500% since 2023, with its market cap exceeding CNY600 billion (USD83.9 billion).