Latest news with #Tianyancha
Time of India
4 days ago
- Business
- Time of India
China's $50 billion chip fund switches tack to fight US curbs
China 's main chip investment fund is planning to focus on the country's key shortcomings in sectors like lithography and semiconductor design software, adjusting its approach to better overcome US efforts to stop its technological advances. The third phase of the state-backed National Integrated Circuit Industry Investment Fund, better known as Big Fund III , will focus on backing local companies and projects in areas considered bottlenecks to technological advances, people familiar with the matter said. That includes lithography systems, where Dutch firm ASML Holding NV dominates, and chip design tools, an arena controlled by US companies Cadence Design Systems Inc. and Synopsys Inc. The new vehicle has so far secured only a portion of the 344 billion yuan ($48 billion) of capital it originally sought when first created more than a year ago as Beijing is being more cautious with its semiconductor bets, according to the people, though the shortfall should be temporary. The Big Fund III plans to hold its investments for a longer period compared to the two previous phases, they said, declining to be named discussing a private government initiative. A years long US-led campaign to curb China's access to chips, equipment and software has appeared to stall Beijing's ambitions in semiconductors, essential to creating cutting-edge AI. Chinese President Xi Jinping has declared the elimination of such choke-points a top priority, particularly as local artificial intelligence players including DeepSeek and Alibaba Group Holding Ltd. are trying to compete on the global stage with deep-pocketed US rivals such as OpenAI in a critical field. China's Big Fund for years sprinkled capital throughout most sectors of the semiconductor industry, from leading manufacturers such as Semiconductor Manufacturing International Corp . to small design companies. It's now adopting a more targeted approach, after massive investments during the fund's first two phases failed to deliver real breakthroughs beyond a surprisingly sophisticated Huawei Technologies Co. mobile processor in 2023. Big Fund III is preparing to make its first major investments in coming months, the people said. Part of its directive is to spur industry consolidation, through deal-making or otherwise, they added. If the new vehicle achieves the scale it originally aimed for, it will be China's largest-ever semiconductor fund, bigger than the previous two phases combined. It counts China's Ministry of Finance, state-owned banks and several local government-backed funds as limited partners, according to corporate data provider Tianyancha. It's created three sub-funds to help identify investment targets throughout the supply chain, the people said. China's Ministry of Finance did not respond to a faxed request for comment. Messages to an email for Big Fund III listed on Tianyancha went unanswered. It's unclear whether the fund's managers have identified potential investment or deal targets. Some of the biggest names in China's chipmaking equipment space include Shanghai Zhangjiang High-Tech Park Development Co., which holds an 11% stake in privately-held lithography machine maker Shanghai Micro Electronics Equipment Group Co. Chinese media outlets have also speculated that Huawei eventually wants to build its own lithography machines, required to make cutting-edge AI chips that can rival Nvidia Corp.'s offerings. Empyrean Technology Co. is one of Chinese's best hopes of competing with leading global chip design software providers including Cadence and Synopsys. China's national chip fund was inaugurated about a decade ago with roughly 100 billion yuan in capital, and has since spearheaded the state's investments in all things semiconductors. It's serving as an important signal of Beijing's policy imperatives, as well as a scorecard for government endorsement. In recent years though, it's faced setbacks in achieving its mission, both internal and external. The US banned Nvidia from selling its best AI accelerators to China, while allies such as Japan and the Netherlands have joined the campaign to ringfence the country's tech sector. Stung by a lack of scientific achievement, Beijing initiated a series of anti-graft probes into top chip industry officers in 2022.
Time of India
5 days ago
- Business
- Time of India
China's $50 billion chip fund switches tack to fight US curbs
China 's main chip investment fund is planning to focus on the country's key shortcomings in sectors like lithography and semiconductor design software, adjusting its approach to better overcome US efforts to stop its technological advances. The third phase of the state-backed National Integrated Circuit Industry Investment Fund, better known as Big Fund III , will focus on backing local companies and projects in areas considered bottlenecks to technological advances, people familiar with the matter said. That includes lithography systems, where Dutch firm ASML Holding NV dominates, and chip design tools, an arena controlled by US companies Cadence Design Systems Inc. and Synopsys Inc. The new vehicle has so far secured only a portion of the 344 billion yuan ($48 billion) of capital it originally sought when first created more than a year ago as Beijing is being more cautious with its semiconductor bets, according to the people, though the shortfall should be temporary. The Big Fund III plans to hold its investments for a longer period compared to the two previous phases, they said, declining to be named discussing a private government initiative. A years long US-led campaign to curb China's access to chips, equipment and software has appeared to stall Beijing's ambitions in semiconductors, essential to creating cutting-edge AI. Chinese President Xi Jinping has declared the elimination of such choke-points a top priority, particularly as local artificial intelligence players including DeepSeek and Alibaba Group Holding Ltd. are trying to compete on the global stage with deep-pocketed US rivals such as OpenAI in a critical field. China's Big Fund for years sprinkled capital throughout most sectors of the semiconductor industry, from leading manufacturers such as Semiconductor Manufacturing International Corp. to small design companies. It's now adopting a more targeted approach, after massive investments during the fund's first two phases failed to deliver real breakthroughs beyond a surprisingly sophisticated Huawei Technologies Co. mobile processor in 2023. Big Fund III is preparing to make its first major investments in coming months, the people said. Part of its directive is to spur industry consolidation, through deal-making or otherwise, they added. If the new vehicle achieves the scale it originally aimed for, it will be China's largest-ever semiconductor fund, bigger than the previous two phases combined. It counts China's Ministry of Finance, state-owned banks and several local government-backed funds as limited partners, according to corporate data provider Tianyancha. It's created three sub-funds to help identify investment targets throughout the supply chain, the people said. China's Ministry of Finance did not respond to a faxed request for comment. Messages to an email for Big Fund III listed on Tianyancha went unanswered. It's unclear whether the fund's managers have identified potential investment or deal targets. Some of the biggest names in China's chipmaking equipment space include Shanghai Zhangjiang High-Tech Park Development Co., which holds an 11% stake in privately-held lithography machine maker Shanghai Micro Electronics Equipment Group Co. Chinese media outlets have also speculated that Huawei eventually wants to build its own lithography machines, required to make cutting-edge AI chips that can rival Nvidia Corp.'s offerings. Empyrean Technology Co. is one of Chinese's best hopes of competing with leading global chip design software providers including Cadence and Synopsys. China's national chip fund was inaugurated about a decade ago with roughly 100 billion yuan in capital, and has since spearheaded the state's investments in all things semiconductors. It's serving as an important signal of Beijing's policy imperatives, as well as a scorecard for government endorsement. In recent years though, it's faced setbacks in achieving its mission, both internal and external. The US banned Nvidia from selling its best AI accelerators to China, while allies such as Japan and the Netherlands have joined the campaign to ringfence the country's tech sector. Stung by a lack of scientific achievement, Beijing initiated a series of anti-graft probes into top chip industry officers in 2022.
South China Morning Post
15-04-2025
- Business
- South China Morning Post
China AI unicorn Zhipu eyes IPO filing this year after DeepSeek's success
Zhipu AI, a Beijing-based artificial intelligence (AI) unicorn born out of China's prestigious Tsinghua University, has filed pre-initial public offering (IPO) documents with China's securities regulator as it eyes a public listing as soon as 2026 amid an increasingly competitive domestic landscape. Advertisement The 6-year-old company submitted the tutoring documents to the Beijing Securities Regulatory Bureau on Monday, a key compliance step before formally applying to the China Securities Regulatory Commission. The start-up plans to finalise its IPO application preparation by October, with China International Capital Corporation (CICC) serving as the tutoring institution. This would set it up for a possible IPO next year, but the company did not specify which exchange it is targeting. Meituan , Zhipu – whose controlling shareholders are founder Tang Jie, a renowned Tsinghua computer scientist, and chairman Liu Debing – has attracted more than 10 billion yuan (US$1.4 billion) in funding. Investors include state-backed entities such as Beijing's Zhongguancun Science City, Beijing AI Industry Investment Fund and local government funds from the cities of Chengdu, Hangzhou and Zhuhai. Venture capital firms HongShan Capital Group, GL Ventures, Qiming Venture Partners, Lightspeed China Partners and Capital Today are also backers, as are a number of Chinese tech giants, including Xiaomi Tencent Holdings and Alibaba Group Holding , owner of the South China Morning Post, according to corporate database Tianyancha and company announcements. Zhipu has quickly risen to become a darling of China's AI industry and is considered one of its 'four tigers' , alongside start-ups Baichuan, Moonshot AI and MiniMax. It has recently made some strategic investments as it looks to expand. 05:00 Does the arrival of China's low-cost DeepSeek mean the end of Nvidia's chip dominance? Does the arrival of China's low-cost DeepSeek mean the end of Nvidia's chip dominance? Last year, Zhipu launched a 1.5 billion yuan venture fund called 'Z', targeting early-stage AI start-ups. The fund has backed dozens of companies, including AI infrastructure firm Infinigence AI, Siliconflow, Modelbest and multimodal AI developer Vidu.
South China Morning Post
25-03-2025
- Business
- South China Morning Post
Chinese tech giant Tencent joins latest investment round in Shanghai robotics start-up Agibot
China's video gaming and social media giant Tencent Holdings has joined the latest round of investors in humanoid robotics start-up Agibot, in a fresh example of a China Big Tech firm betting on the robotics industry. Advertisement The Shanghai-based firm, also known as Zhiyuan Robotics, confirmed that the new financing round also included money from Lanchi Ventures, Longcheer Technology, Wolong and Zhuhai Huafa Group. It did not specify the investment amounts, but according to Chinese corporate database Tianyancha, the company's registered capital has increased to 80.46 million yuan (US$11.1 million) from 76.37 million yuan. Robots, particularly the humanoid kind, have become one of the hottest investment areas in China as venture capital firms, supply chain partners and deep-pocketed tech giants jostle to invest in leading start-ups. Agibot has become a rising star in China's robotics industry partly thanks to its strong founding team, which includes Peng Zhihui, a former recruit from Huawei Technologies' 'Genius Youth' programme, and Yan Weixin, a professor at Shanghai Jiao Tong University. A robot from Agibot is seen during the Global Developer Conference in Shanghai on February 21, 2025. Photo: AFP The firm's CEO and chairman Deng Taihua, formerly vice-president and head of computing products at Huawei, recently took on the role of legal representative – a move described by the company as 'a routine change', without providing further details.
South China Morning Post
06-03-2025
- Business
- South China Morning Post
Shenzhen boosts role as China's humanoid robotics base with Unitree local venture
Shenzhen has received a boost to its role in manufacturing humanoid robots after Unitree Robotics set up a new venture to leverage the supply chain and supportive policies of the southern tech hub. Advertisement Unitree, the country's hottest robot maker and one of the so-called six Little Dragons based in the eastern Chinese city of Hangzhou, established a wholly-owned venture called Shenzhen Tianyi Technology, which will handle development and sales of intelligent robots and manufacturing of service robots, among others, according to business registry platform Tianyancha. Unitree, whose robot dogs and humanoid robots have attracted global attention, set up similar subsidiaries in Beijing and Shanghai in late 2024, according to Tianyancha. Unitree's expansion in Shenzhen comes just days after the tech hub in southern Guangdong province introduced sweeping measures to achieve its ambition as a leader in the rapidly growing robotics field, as other Chinese cities including Hangzhou emerge as new hubs of innovations. The four legged Go2-W robot from Unitree Robotics interacts with an attendee during the Mobile World Congress in Barcelona on March 3, 2025. Photo: AFP This week, Shenzhen released an ambitious plan to build a 100 billion yuan (US$13.8 billion) humanoid robotics sector by 2027. It aims to cultivate an industry cluster of 1,200 human-shaped robotics-related firms by then, including over 10 companies with valuations exceeding 10 billion yuan. Advertisement
