State-Owned Chinese Chipmaker Unisoc Set to Raise 5 Billion Yuan

ABOUT US

CX Tech is Caixin Global's real-time tech news portal, featuring 24-hour news, short-form analysis, and roundups from business and tech media in China.

TRENDING: GPT Weekly: CoreWeave Secures $6.3 Billion Nvidia Order; Huawei Unveils Three-Year AI Chip Roadmap as Nvidia Faces Setbacks in China

LATEST: GPT Weekly: CoreWeave Secures $6.3 Billion Nvidia Order; Huawei Unveils Three-Year AI Chip Roadmap as Nvidia Faces Setbacks in China; Tencent Cloud Shuns Price War in Intensifying AI Race; China’s Regulator Ramps Up Push to Curb Food Delivery Subsidy War; Chinese Robot Startup Unitree Gears Up for Market Debut; China Enforces AI Content Labeling Rules to Curb Misuse; Tech Brief (Sept. 2): China Rolls Out Mandatory AI Labeling; Meituan Enters Open-Source AI Race With LongCat Model; Tech Brief (Aug. 29): SenseTime Reports Strong AI Growth; All Hail the Driverless Taxis as China Eyes a $183 Billion Market; Tech Brief (Aug. 27): Cambricon Reports $128 Million Profit, Stock More Than Doubles Since July; Tech Brief (Aug. 26): Musk’s xAI Sues Apple and OpenAI Over Alleged AI Market Monopoly; Exclusive: NetEase’s Youdao CEO Explains How AI Agents Could Build a Future of Virtual Teachers; Ant Group Teams up With Top Beijing Hospital to Launch AI Healthcare Lab; Didi and Meituan Clash in Brazil as Food Delivery Battle Goes to Court; Google Denies Rumors It Is Resuming Full Services on Chinese Mainland; China Proves a Winner in the Gaming Market as Growth Hits a Five-Year High; China’s Booster Robotics Lands New Funding as it Hits a Winning Streak; Amazon to Shut Down Shanghai AI Lab Amid Strategic Shift; Cover Story: A New Gold Rush Begins in China’s Hard Tech Sector

By Qin Min and Mo Yelin / Mar 18, 2020 04:09 PM / Business & Tech

Photo: VCG

Unisoc, the chip-making unit of state-owned Tsinghua Unigroup Co., is set to complete its 5-billion-yuan ($713 million) fundraising, amid China’s efforts to build up the country’s chip-making capacity.

Two investors – the state-backed China Integrated Circuit Industry Investment Fund and another fund backed by the Shanghai government – will each invest 2.25 billion yuan in Unisoc, said a person close to the company, adding the rest will come coming from other sources.

In October, Unisoc announced that the company planned to raise up to 5 billion yuan, with the corresponding stake in the company being capped at 9.09%. Based on those figures Unisoc is valued at 56 billion yuan.

The source said the deal has entered its final stage and will be closed after some “paperwork.” After the deal, Tsinghua Unigroup will remain as Unisoc’s largest shareholder, the source added.

Read the full story on Caixin Global later.

Contact reporter Mo Yelin (yelinmo@caixin.com)

Share this article

Open WeChat and scan the QR code