Chinese advertising to internet company Tencent Holdings Limited has led a 340 million Chinese yuan ($50 million) pre-A round in Suiyuan Technology, a Chinese artificial intelligence (AI) start-up developing cloud-based deep learning chips for AI training platforms.
Existing investors including Zhen Fund, Delta Capital, Yunhe Partners and Summitview Capital also participated in the round.
Proceeds of this round will be used for research and development of its cloud-based AI chips and relevant software investments.
Suiyuan Technology claims that its chips will adopt self-developed architecture with high computational power, high efficiency, low cost and programmable features to support AI training and optimization.