Xiaomi considers participating in AI chip

Xiaomi (14.7, 0.00, 0.00%) is one of the investors considering participating in a round of at least 1.5 billion yuan (about $231million) of black sesame Intelligent Technology Co., Ltd., according to people familiar with the matter.

Xiaomi considers participating in AI chip

The financing valued the Shanghai based AI and autopilot chip manufacturer at a maximum of $1.5 billion, with one person familiar with the financing saying that the investors in the last round of black sesame financing included Tencent holdings.

According to people familiar with the matter, black sesame is considering listing on the science and technology board as early as next year. They say the company plans to raise at least one round of financing before any possible IPO.

The details of the scale and valuation of the round of financing may change, the people familiar with the matter said, while the discussion on IPO is still in an early stage, and black sesame may eventually decide not to seek listing.