Cambricon Technologies, one of China’s AI chip giant founded in 2016, has raised US $369 million in IPO at the Shanghai Stock Exchange’s STAR Market. Cambricon’s IPO price is set at 64.39 yuan, issuing 40.1 million shares in total. According to released prospectus, as of the end of 2019, the company has 680 R&D staff, accounting for 79.25% of total employees. Cambricon’s CTO Liang Jun has perviously worked for Huawei HiSilicon. The company was formerly a 10-person researcher team at the Chinese Academy of Sciences’ Institute of Computing Technology.
Cambricon pioneers the development of smart chips and processors with high performance and low power consumption for AI R&D. Its flagship product, Cambricon-1A, is the company’s first generation AI chip for edge devices and the world’s first deep learning processor for commercial use. The company has also released the derivative chips Cambricon-1H and Cambricon-1M. Its chips now power nearly 100 million smartphones and servers for clients including Huawei and Alibaba. The company expects to deliver large-scale revenue in 2021 from its new generation 7nm cloud-computing smart chip Siyuan 290, while edge-computing chip Siyuan 220 and other related products are aiming for large-scale shipments in 2020.
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