Zhongguancun-based Chinese chip startup Cambricon Technologies recently invested 100 million yuan ($15.41 million) into the construction of a new branch in Xiongan New Area, North China's Hebei province, local media reported on Jan 8.

The branch will be built in Xiongan New Area's Rongcheng county and will specialize in integrated circuit design, technology development, technical services, technology transfer, computer system integration, and computer software development, as well as the import and export of its products and technologies.

The company's Cambricon-1A Chip, the world's first commercial-use processor for advanced learning, was launched in 2016 and is widely used in robotics, drones, autonomous vehicles, and consumer electronics.

Cambricon CEO Chen Tianshi introduces the company's AI chip on Nov 6, 2017. [Photo provided to chinadaily.com.cn]

The chip, designed by two graduates of the Institute of Computing Technology of the Chinese Academy of Sciences, Chen Yunji and Chen Tianshi, has attracted numerous investors in the year since its launch, including e-commercial giant Alibaba, computer manufacturer Lenovo, the investment arm of the Chinese Academy of Sciences, as well as State Development and Investment Corp (SDIC).

Last August, Cambricon announced it had raised $100 million in series A funding, which is being managed by SDIC's Chuangye Investment Management.

Last July, China unveiled a plan to build a 1 trillion yuan ($152.5 billion) AI core industry by 2030, and said developing homegrown AI processors is an important part of this plan.

The Cambricon-1A Chip is shown during the 2017 National Mass Entrepreneurship and Innovation Week's Beijing-themed exhibition from Sept 15 to Sept 21. [Photo provided to chinadaily.com.cn]