China AI chip firm Biren raises new funds, plans Hong Kong IPO

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Chinese AI chip startup Biren Technology has raised about 1.5 billion yuan ($207 million) in fresh funding and is preparing for a Hong Kong initial public offering, people familiar with the matter said.

The funding round and IPO plan come as China seeks to develop domestic alternatives to U.S. semiconductors amid escalating export restrictions by Washington on advanced chips.

Beijing has prioritised building homegrown champions in graphics processing units (GPUs), which are critical for artificial intelligence development.

The 1.5 billion yuan funding…



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China AI chip firm Biren raises new funds, plans Hong Kong IPO



Chinese AI chip startup Biren Technology has raised about 1.5 billion yuan ($207 million) in fresh funding and is preparing for a Hong Kong initial public offering, people familiar with the matter said.

The funding round and IPO plan come as China seeks to develop domestic alternatives to U.S. semiconductors amid escalating export restrictions by Washington on advanced chips.

Beijing has prioritised building homegrown champions in graphics processing units (GPUs), which are critical for artificial intelligence development.

The 1.5 billion yuan funding…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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