Shanghai Stock Exchange has accepted the listing application of Cambrian science and technology innovation board, and plans to raise 2.8 billion yuan

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 Shanghai Stock Exchange has accepted the listing application of Cambrian science and technology innovation board, and plans to raise 2.8 billion yuan


According to the prospectus, the raised funds will be used for the new generation of cloud training chip and system project, the new generation of cloud reasoning chip and system project, the new generation of edge AI chip and system project, and to supplement the working capital.

Cambrian science and technology was jointly founded in 2016 by Chen Tianshi and his brother Chen Yunji, both of whom graduated from the junior class of CUHK. Chen Tianshis research direction is artificial intelligence algorithm, while Chen Yunji focuses on computer chips.

The predecessor of Cambrian is the 10 member academic team exploring the cross field of processor architecture and artificial intelligence established by the Institute of computing, Chinese Academy of Sciences in 2008. The name Cambrian is to compare the future of artificial intelligence with the era of life explosion in geology.

According to the prospectus, Chen Tianshi is the controlling shareholder and actual controller of Cambrian. Before this issuance, it directly held 33.19% of the companys shares. In addition, the second largest shareholder of the company is the wholly-owned by the Institute of computing of the Chinese Academy of Sciences, with a shareholding ratio of 18.24%. In addition, foreign investment funds, Nanjing Zhaoyin, Ali venture capital and iFLYTEK are all shareholders. Prior to the issuance, there were 32 individual and institutional shareholders directly holding shares in Cambrian.

According to the prospectus report, the annual operating revenue of Cambrian from 2017 to 2019 was 7.8433 million yuan, 117 million yuan and 444 million yuan respectively; the net losses were 381 million yuan, 41.0465 million yuan and 1.179 billion yuan respectively. Meanwhile, R & D investment accounted for 380.73%, 205.18% and 122.32% of operating revenue in the last three years.

According to Cambrian official website, Cambrian is committed to building core processor chips of various intelligent cloud servers, intelligent terminals and intelligent robots. In 2016, Cambrian launched the first Cambrian 1A processor; in 2018, Siyuan 100 (mlu100) machine learning processor chip was launched; in June 2019, Chinese brand of cloud AI chip Siyuan, the second generation cloud AI chip Siyuan 270 (mlu270) and board card products were launched; in November 2019, edge AI series products Siyuan 220 (mlu220) chip and module products were launched. At present, there are two main business models for Cambrian AI chips: one is to authorize the processor IP to chip manufacturers, for example, in cooperation with Huawei; the other is to design and sell chips by ourselves, for example, Cambrian cloud intelligent chips for Internet companies and other users. Extended reading expert: the epidemic situation once again shows that the war between human beings and pathogenic microorganisms is far from over. The global war is in urgent need of new technology. Medical AI ushers in the opportunity of outbreak. Huawei developers conference calls for Kunpeng + shengteng industrial chain layout. Source: surging news editor: Wang Fengzhi u00b7 nt2541

At present, there are two main business models for Cambrian AI chips: one is to authorize the processor IP to chip manufacturers, for example, in cooperation with Huawei; the other is to design and sell chips by ourselves, for example, Cambrian cloud intelligent chips for Internet companies and other users.