BUSINESS

Tsing Micro Raises Over 2 Billion Yuan in State-Backed Round as China Ramps Up AI Chip Push

Published: Dec. 3, 2025 3:17 a.m. GMT+8

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The booth of Tsing Micro Intelligent Technology Co. Ltd. at the 2024 Inclusion Conference in Shanghai on Sept. 11, 2025.

Chinese AI chip startup Tsing Micro Intelligent Technology Co. Ltd. has raised more than 2 billion yuan ($283 million) in a Series C funding round led by state-owned Beijing Jingneng Power Group, as China steps up efforts to localize its AI technology stack.

The round drew backing from multiple state-linked investors, including Beijing Venture Capital, Zhongguancun Science City Innovation Development Co. Ltd., along with other new and returning shareholders. Jingneng, which also operates Beijing’s public AI computing center, leads the consortium.

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Tsing Micro raised over 2 billion yuan ($283 million) in Series C funding, led by state-backed investors, to support AI chip development and expansion.
The company has shipped over 20 million AI chips, launched the TX81 cloud chip, and plans to mass-produce the TX82 (Nvidia H100 rival) by 2026.
China’s AI chip sector is growing rapidly under U.S. export restrictions, but remains in early development stages.

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Who’s Who

Tsing Micro Intelligent Technology Co. Ltd.: Tsing Micro Intelligent Technology Co. Ltd. is a Chinese AI chip startup that recently raised over 2 billion yuan ($283 million) in Series C funding. Founded in 2018 by Tsinghua University professors, it originated from the university's Reconfigurable Computing Lab. The company mass-produces various AI chips, with plans for a domestic IPO and next-generation chip development to rival Nvidia's H100.

Beijing Jingneng Power Group: Beijing Jingneng Power Group, a state-owned enterprise, led the Series C funding round for Chinese AI chip startup Tsing Micro Intelligent Technology Co. Ltd. This group also operates Beijing's public AI computing center and is a significant investor in China's efforts to localize its AI technology stack.

Beijing Venture Capital: Beijing Venture Capital is a state-linked investor that participated in the Series C funding round for Tsing Micro Intelligent Technology Co. Ltd. This investment supports Tsing Micro's development of next-generation chips and expansion of AI computing centers.

Zhongguancun Science City Innovation Development Co. Ltd.: Zhongguancun Science City Innovation Development Co. Ltd. is a state-linked investor that participated in the Series C funding round for Tsing Micro Intelligent Technology Co. Ltd. This investment contributes to China's efforts to localize its AI technology stack.

Hangzhou Hikvision Digital Technology Co. Ltd.: Hangzhou Hikvision Digital Technology Co. Ltd. supplied over 5 million units of Tsing Micro's edge AI chips for facial and voice recognition through its consumer camera arm, Ezviz. This collaboration highlights Hikvision's role in integrating advanced AI technology into its products, leveraging Tsing Micro's specialized chip solutions.

SK Hynix Inc.: SK Hynix Inc. is listed as a previous investor in the Chinese AI chip startup Tsing Micro Intelligent Technology Co. Ltd. This indicates their involvement in funding the company.

China National Integrated Circuit Fund (Big Fund II): China National Integrated Circuit Fund (Big Fund II) is an investor in Chinese AI chip startup Tsing Micro Intelligent Technology Co. Ltd. This investment contributes to China's efforts to localize its AI technology stack and achieve independence in AI chip development amidst escalating U.S. export restrictions.

GigaDevice Semiconductor Inc.: GigaDevice Semiconductor Inc. is mentioned as one of the leading domestic semiconductor firms that previously invested in Tsing Micro Intelligent Technology Co. Ltd. This indicates their involvement and interest in the Chinese AI chip industry.

Cambricon Technologies Corp. Ltd.: Cambricon Technologies Corp. Ltd. is currently the sole AI chipmaker listed on China's A-share market. In mid-2024, its shares saw a significant surge, briefly becoming the most expensive stock on the exchange, surpassing Kweichow Moutai Co. Ltd. This happened amidst China's increased efforts for AI chip independence due to US export restrictions.

Kweichow Moutai Co. Ltd.: Kweichow Moutai Co. Ltd. is a prominent Chinese company whose stock was surpassed by Cambricon Technologies Corp. Ltd. in mid-2024, briefly making Cambricon the most expensive stock on China's A-share market. This highlights the rapid growth and investment in China's AI chip sector.

Moore Threads Technology (Beijing) Co. Ltd.: Moore Threads Technology (Beijing) Co. Ltd. is a GPU startup in China that has garnered investor attention. It secured approval for a STAR Market IPO in September, aiming to raise 8 billion yuan. Despite a significant revenue increase from 45.8 million yuan in 2022 to 432 million yuan in 2024, the company has accumulated 4.5 billion yuan in losses over the past three years due to heavy R&D spending.

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What Happened When

2018：: Tsing Micro Intelligent Technology Co. Ltd. was founded by Tsinghua University professors Wang Bo and Yin Shouyi.

2024：: Tsing Micro began volume production of its first cloud AI chip, the TX81, which has been deployed in more than 10 large-scale AI data centers across China.

Mid-2024：: Shares of Cambricon Technologies Corp. Ltd. briefly became the most expensive stock on China’s A-share market.

September 2024：: Moore Threads Technology secured rapid approval for a STAR Market IPO, aiming to raise 8 billion yuan.

By October 2024：: Tsing Micro’s total chip shipments exceeded 20 million units, with nearly 20,000 accelerator cards delivered (according to Yin Shouyi).