China is doubling down on technological independence, and the results are becoming impossible to ignore. According to the newly released 2025 Hurun China Artificial Intelligence Enterprises Top 50, the nation’s AI sector is exploding in value, driven largely by a strategic pivot toward self-reliance.
Published on 19th January, 2026, by the Hurun Research Institute in partnership with Beijing E-Town, this year’s ranking offers hard evidence that Chinese tech firms are not just surviving global supply chain pressures; they are thriving because of them. The most telling trend in this year’s report is the dominance of hardware. AI chip manufacturers have secured 7 out of the top 10 spots, signaling a major shift in the industry’s center of gravity. As China seeks to insulate itself from external tech restrictions, these chip firms are rapidly becoming the most valuable players in the ecosystem.
By the Numbers: A Skyrocketing Market
The valuation metrics from the 2025 report show growth that can only be described as dramatic. The financial bar to enter the list has been raised significantly, reflecting a maturing and highly capitalized market. The entry threshold rose to 9.5 billion yuan, an increase of 3.5 billion yuan from the previous year. The average company value now stands at 54 billion yuan, more than double that of 2024, while the threshold for the top 10 has tripled to 73 billion yuan.
Cambricon leads the pack with a valuation of 630 billion yuan, marking a 165% rise from last year. Founded in 2016 in Beijing, the AI chip specialist is followed by Moore Threads at 310 billion yuan, a domestic GPU leader established in 2020. MetaX and Enflame Technology, both valued at around 250 billion yuan, round out the upper echelons, with MetaX achieving full domestic production of high-end GPUs since its founding in Shanghai in 2020.
The dominance of AI chip companies now representing 14 of the 50 entries, up from just five in 2024 is largely attributed to U.S. export restrictions on advanced semiconductors, which have accelerated China’s drive towards independence in computing infrastructure. This year’s list features 18 new entrants, including 10 AI chip-related firms, and sees five companies surpassing the 100 billion yuan mark. The average age of listed companies is 12 years, with younger players like Moonshot AI, Baichuan AI, and StepFun all founded in 2023 and focused on AIGC large models making notable appearances.