AI chip manufacturer Cambricon reaches $2.5bn valuation

Chinese chip manufacturer, Cambricon Technologies, has secured hundreds of millions in its latest funding round, reports Synced Review.

The Series B funding round has left the company with a valuation of $2.5bn. Investors reportedly include Capital Venture (a Chinese state-owned company), SDIC Venture Capital, China Capital Investment Group, TCL Capital, CITIC Securities, Alibaba VC, and Lenovo Capital & Incubator Group.

Cambricon mainly focusses on the development of artificial intelligence (AI) chips. The company produced China’s first AI chip in 2016 for use in smartphones, wearable technology and drones. In particular, Cambricon is looking to develop chips with low power consumption.

See also:

iFlyTek to raise $567mn funding

Samsung launches new AI fund, NEXT Q

Alibaba, Tencent and Baidu invest $4.3bn in Foxconn Industrial Internet IPO

China Daily says that after the funding round, it is now the highest valued smart chip startup in the world.

Previous investors in Cambricon have included iFlyTek, Oriza and Yonghua, according to Global University Venturing. iFlyTek is a voice recognition company and part of China’s national AI team, while both Oriza and Yonghu are early-stage investment companies with a technology focus.

Cambricon has stated that following the funding it will “continue to devote itself to spreading smart chip ideas, technologies and products to every corner of the world, allowing machines to better understand and serve humanity.”  

 

Share

Featured Articles

Top 10 female executives leading Japan's charge for change

As Japan pledges a 30% target for women executives at big firms by 2030, we spotlight 10 female corporate leaders blazing a trail in the country

Top 10 most valuable unicorns in China – phones to drones

Home to the world’s most valuable unicorn, not to mention the fastest growing, China may be trailing the US on numbers, but it is catching up – and fast

Top 10 fastest-growing energy companies in the APAC region

Business Chief takes a look at the top 10 fastest-growing energy companies in the APAC region, according to rankings from S&P Global Commodity Insights

Top 10 Chief Financial Officers in India

Corporate Finance

Top 10 largest companies Malaysia and the CEOs who helm them

Leadership & Strategy

5 high-profile CEO moves across Asia-Pacific this month

Leadership & Strategy