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Chinese AI Chip firm Cambricon drops before Star 50 index tweak
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Chinese AI Chip firm Cambricon drops before Star 50 index tweak
Shares of a Chinese AI chipmaker experienced a sharp decline after doubling last month, following an announcement that the Star 50 Index would undergo a regular rebalancing. The company’s stock dropped 14.4% to 1,202 yuan (around $168.42 USD) yesterday, marking a decline of over 24% since hitting a record closing price of 1,587.91 yuan ($222 USD) on August 29, when it surpassed a leading multi-year stock to become the most expensive on the mainl…
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