AI Chipmaker Sunrise Doubles Valuation After Raising 2 Billion Yuan

Chinese AI chipmaker Sunrise has raised 2 billion yuan ($297 million) in a new funding round, nearly doubling its valuation to about 20 billion yuan, Caixin learned from sources familiar with the matter, as AI computing demand continues to grow.

The fundraising highlights how an acute shortage of high-end graphics processing units (GPUs) and uncertainties surrounding U.S. technology supplies are driving an investment boom in China’s domestic AI hardware supply chain.