Meituan Backs A.I. Chip Start-Up as Chinese Tech Giants Pour Money Into Semiconductors - NBC 6 South Florida

Chinese artificial intelligence chip start-up Axera has raised 800 million yuan ($126 million) from investors including food delivery giant Meituan , as the country’s largest tech firms continue to pour money into semiconductors. The funding round included a number of other investors including Qiming Venture Partners. The latest capital injection comes after Axera raised money just months ago in August, highlighting investor appetite in China’s semiconductor start-ups. Beijing has made boosting self-sufficiency as well as research and development into semiconductors a top priority, with the country’s industry still relying heavily on foreign technology . Chips, which go into everything from…