Cambricon Technologies became the costliest stock in mainland China’s equities market, as the Beijing-based chipmaker replaced the liquor distiller Kweichow Moutai in a sign of the rising significance of artificial intelligence (AI) in the world’s second-largest capital market. Trading under the symbol 688256 in Shanghai, Cambricon’s shares jumped 11.60 per cent on Monday to a record 1,384.93 yuan, giving it 579.38 billion yuan (US$81 billion) in market value. The stock has more than doubled in...