Moffett AI Completes Round A Financing
Summary
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. 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. 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. SEE ALSO: SIA: China’s Share of Global Chip Sales Nearing Level of Europe and Japan 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. 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%.