Jin Jiang joins a $43 million round in AI chip maker Canaan
Chinese hotel operator Jin Jiang International has joined a group of investors in funding the RMB 300 million (USD 43 million) A round of Canaan, an AI chip maker based in Hangzhou, reported China Money Network.
The round values Cannan at RMB 3.3 billion (USD 480 million) post-money, according to reports.
Founded in 2013, Canaan develops application-specific integrated circuit (ASIC) chips, combining artificial neural networks with processors.
The product can be applied in the artificial intelligence fields including smart home appliance, autonomous driving, voice interaction and image recognition.
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