China Merchants China Direct Investments (00133) said it has indirectly participated in the capital raising of Beijing CAS Cambricon Technology Co., Ltd. with an amount of nearly Rmb40 million for a beneficial interest of around 0.246% in the enlarged capital of Cambricon, via a partnership enterprise.
Cambricon was established in March 2016. It originally comes from a research and development project of the Smart Chips Research Group of the Institute of Computing Technology, Chinese Academy of Sciences, and is a high-technology company that focuses on the research and development and design of artificial intelligence chips.
China Merchants China Direct Investments is of the view that the AI chips industry in China has broad prospects, and Cambricon has the potential of becoming a high-technology company with international competitiveness in such industry.
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