Moffett AI Completes Round A Financing
Recently, Moffett AI received several hundred million yuan of A round financing, led by CoStone Capital and Greater Bay Area Common Home Development Fund, followed by Co-power Capital, Zhongke Huachuang Investment Fund and Shenzhen Angel FOF.
The funds are marked for use for the mass production of the company’s first chip and an expansion of its sparse neural network. China Renaissance acted as the exclusive financing consultant for this round of financing.
Moxin Artificial Intelligence was founded in Silicon Valley in 2018 and is currently headquartered in Shenzhen. It aims to support the development of a comprehensive sparse neural network by optimizing computing models, and provide a universal AI computing platform with ultra-high computing power and ultra-low power consumption.
Wang Wei, the founder and CEO of the company, is a Silicon Valley chip expert with a master’s degree in ECE from Carnegie Mellon University and nearly 20 years’ working experience. He used to be one of the core team members of Intel’s CPU production team, notably those from the fifth to tenth generation.
The founding team is a group of young scientists from Carnegie Mellon University in the field of machine learning and senior Silicon Valley computer architects and chip design engineers.
The Antoum chip developed by the company supports a sparse rate of up to 32X. The processor supports the mainstream development framework and extensive AI operation bases and models.
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Based on this chip, Moffett AI has developed two AI computing accelerator cards, SparseOne, which focuses on low power consumption and cost performance, and SparseMegatron, which focuses on high computing power. These two cards will be released in the first quarter of 2022.
According to IDC data, by 2022, the global AI chip market will reach $35.2 billion, with a compound annual growth rate of more than 55%. At present, the global AI chip market is still in its infancy, and there are still great opportunities for those putting in the work.