Kunlun Tech to Acquire Controlling Stakes in Aijie Kexin

Kunlun Tech to Acquire Controlling Stakes in Aijie Kexin
Photo: yicaiglobal.com 22.09.2023 1022

The deal will be worth 680 million yuan ($93.2 million), Yicai Global reported.

Chinese internet firm Kunlun Tech will purchase a 58 percent stake in artificial intelligence big computing power chip startup Aijie Kexin Technology for CNY680 million (USD93.2 million) to ensure a stable supply of computing power. This will be done through its two wholly-owned subsidiaries.

Aijie Kexin mainly researches, develops, and produces AI big computing power and supporting chips, especially for artificial intelligence generated content and AI games’ smart computation. Its core team comprises famous experts in the fields of integrated circuits, AI, and large language models.

After the deal, Kunlun Tech and Aijie Kexin’s founder Jiang Yimin will join hands with the Institute of Microelectronic of the Chinese Academy of Sciences, a top-notch Chinese scientific research body in the chip field, to achieve breakthroughs in AI big computing power and developments in building more advanced AI chips, Kunlun Techs noted.

Kunlun Techs, which started from mobile games and is now a comprehensive internet platform, has expanded its presence to all segments of the industry chain, including AI chips, AIGC, LLMs, AI-based applications, and information distribution.

Source: Yicai Global

digital markets  China 

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