China’s AI Chipmaker Biren Wins $280 Million In Funding Pledge After US Sanction

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Chinese artificial intelligence chip firm Shanghai Biren Intelligent Technology Co. has recently secured a pledge of 2 billion yuan ($280 million) from Guangzhou government-backed investors after the company was blacklisted by Washington in October, according to people familiar with the matter.The startup has also talked to officials in Hong Kong in recent weeks for extra funding and it is considering establishing operations in the Chinese territory, according to the people, who asked not to be identified as the information is not public. The talks between Biren and the Hong Kong government may still fall through, the people said.

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