Enflame, founded in 2018, specializes in manufacturing computer chips for AI applications across various industries. The company previously collaborated with Tencent to create an AI chip called “Zixiao” for processing images, video, and natural language. The latest funding round comes amid growing investor interest in AI infrastructure, highlighted by the success of OpenAI LP’s ChatGPT.
Key takeaways:
- Chinese AI chipmaker Enflame Technology Co. Ltd. has raised $237.7 million in a late-stage funding round led by a subsidiary of Shanghai International Group Co. Ltd.
- The funding round also saw participation from Tencent Holdings Ltd., the creator of the WeChat app and Meitu-a, a photo editing app, among other Chinese investors.
- Enflame, founded in 2018, focuses on manufacturing computer chips for AI and its cloud chips are used in AI applications across diverse industries.
- The funds from the round will be used to create more competitive AI chips by collaborating with industry leaders, according to Enflame founder and CEO Zhao Lidong.