China steps up investment in AI chips with funding for Hangzhou Nationalchip

//China steps up investment in AI chips with funding for Hangzhou Nationalchip

China steps up investment in AI chips with funding for Hangzhou Nationalchip

A Chinese government-linked fund led investment into a local chip maker amid efforts by the country to tap an artificial intelligence boom.A national guidance fund under the State Development & Investment Corp (SDIC) – which has the Ministry of Finance as a major stake holder – led the 150 million yuan (US$22.3 million) B round for Nationalchip, according to Sinovation Ventures, a venture capital firm founded by former Google China head Lee Kai-fu, who has written several books about AI…

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By | 2019-02-25T04:39:15+00:00 February 25th, 2019|Technology|Comments Off on China steps up investment in AI chips with funding for Hangzhou Nationalchip