MetaX, founded in September 2020, has reportedly raised billions of yuan since its formation and already has more than 300 employees with 80 percent of them engaged in R&D.
The latest round of finance was led by two state-owned equity investment platforms; China Structural Reform Fund and China Internet Investment Fund. Existing shareholders, Lightspeed China Partners, Sequoia China and Matrix Partners China also invested.
MetaX is one of a slew of Chinese companies that have been formed to try and compete with Nvidia Corp. to provide high-performance GPU silicon for use in artificial intelligence in data centers.
Others include Biren Technology (see Former AMD executive joins Chinese chip 'unicorn' ), Vastai Technologies (see China GPU-to-AI startup lands $50 million funding ) and Moore Threads (see Chinese GPU/AI 'unicorn' formed to take on Nvidia ).
Making domestic high-performance GPUs is of great significance to the development of China's integrated circuit industry, MetaX said.
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