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Chinese AI chip startup Biren Technology has raised about 1.5 billion yuan ($207 million) in fresh funding and is preparing for a Hong Kong initial public offering, people familiar with the matter said.
The funding round and IPO plan come as China seeks to develop domestic alternatives to U.S. semiconductors amid escalating export restrictions by Washington on advanced chips.
Beijing has prioritised building homegrown champions in graphics processing units (GPUs), which are critical for artificial intelligence development.
The 1.5 billion yuan funding…
