Chinese AI start-up founder now world’s 3rd richest under 40—how US chip curbs helped Chen Tianshi build a fortune

Chen Tianshi, co-founder of Cambricon Technologies, was nowhere near being among the wealthiest people on Earth in 2019. His AI chip manufacturing company’s largest customer, Huawei Technologies Co., had suddenly stopped nearly all business to build its own semiconductors. Till then, Huawei had accounted for over 95% of the company’s revenue.

Following a sudden decline in a major source of revenue, Tianshi found a way to boost business due to the US decision to cut off China’s access to cutting-edge chips and Beijing’s aim to boost domestic technology, according to a report by Bloomberg News.