US sanctions propel Chinese AI prodigy to $23 billion fortune
BLOOMBERG
The US decision to cut off China’s access to cutting-edge chips and Beijing’s determination to foster homegrown technology ultimately created a halo of state sponsorship and a vast protected market for the computer prodigy’s company, which propelled him to become one of the world’s richest self-made billionaires.
Shares of his chip designer Cambricon Technologies have surged more than 765% over the past 24 months.
His wealth, the majority of which is derived from his 28% stake in the Beijing-based producer of AI accelerators, has more than doubled to $22.5 billion since the beginning of the year, according to the Bloomberg Billionaires Index.
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