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Meituan backs chip start-up as Chinese giants pour money into space


China outlined seven frontier technologies in its 14th Five Year Plan. These areas are the ones China intends to focus its research and will include brain-computer fusion and semiconductors.

Yuichiro Chino | Moment | Getty Images

The e-commerce industry is also a giant Alibaba took the wraps off its own piece of siliconThey are designed for use in servers within a data centre.

Meituan, the food delivery firm that has received Axera backing, recently invested in a chip-company.

Axera is a manufacturer of AI chips that are used in computer vision. It refers to how computers are able to analyze large numbers of images, and can be used for areas like facial recognition. However, this is a complex task that requires high computing power. This can be simplified by using specialized computer vision chip.

Two chips have been launched by the company since its founding in May 2019. Axera states that their chips can be used for applications such as smart cities and smart home. Axera explained that new funding would be used to hire talent and expand the company’s operations.