Chinese chip designer vastai raises $50m series A round led by kuaishou, others

China was around a 2 billion dollar AI chip market in 2019. This fund will help the company to scale more powerful AI chip.

For the expansion of 5G technology and IOT over the world, AI chip has more demand in the Chinese market and also other developing countries, this fund will boost more IOT implementation in china.

It is an awesome movement for vastai as a two years old company. This fund will help the IOT industry in china for further implementation work.