Horizon, the Chinese AI Chip Innovator, Aims to Secure $700M Investment to Compete with NVIDIA
Horizon Robotics Aims to Raise $700M to Compete with NVIDIA
Chinese AI chip manufacturer Horizon Robotics is in the process of raising $700 million in a new funding round. This company is often viewed as a potential rival to NVIDIA in the Chinese market. Founded by Dr. Kai Yu, a highly regarded figure in the industry, Horizon is making strides in AI chip technology.
Dr. Yu previously headed Baidu’s AI Research lab for three years, established the Baidu Institute of Deep Learning, and initiated the company’s autonomous driving business unit. In addition to his extensive teaching experience at Stanford University, he has published over 60 academic papers and won first place in the ImageNet challenge, which assesses object detection and image classification algorithms.
As of now, China has yet to develop a chipset firm that matches Western competitors in capability. Due to increasing sanctions from the U.S., Chinese companies are finding it increasingly difficult to access American semiconductor technology, leading to the rise of homegrown alternatives that attract investor interest.
Just five years old, Horizon focuses on creating AI chips for robotics and autonomous vehicles and has already gained significant financial backing. Two years ago, the company raised $600 million, thereby achieving a valuation of $3 billion. Currently, Horizon has already secured $150 million in this latest funding endeavor.
While it’s anticipated that the incoming Biden administration may adopt a less strict stance on trade with China, Beijing is aiming to foster local alternatives that can rival or even surpass those in the West. Major Chinese tech firms like Huawei are pouring resources into developing their chip manufacturing capabilities to equip the nation with the technology essential for transformative innovations, such as self-driving cars.
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