Moffett AI secures 1 billion yuan in latest funding round
Shenzhen-based semiconductor developer Moffett AI has raised nearly 1 billion yuan in a Series C+ funding round to support the development of sparse-computing AI chips.
Moffett AI, a developer of AI inference processors based in Shenzhen, announced on November 3 that it has raised nearly 1 billion yuan in a Series C+ financing round. This capital infusion arrives just five months after the company completed a similar funding round.
The company specializes in sparse computing, a technique designed to reduce the computational requirements for running artificial intelligence models by exploiting data sparsity. Moffett AI has already deployed inference clusters across four regions in China and maintains active partnerships with various telecommunications operators.
Proceeds from the latest round are earmarked for enhancing existing inference hardware, research into future processor architectures, and joint development projects with research institutions. The firm is currently preparing for the commercial release of its SP200 accelerator card, which is slated for launch before the end of the year.