Chinese state-backed voice recognition giant iFlytek has revealed a 1.19 per cent stake in Cambricon Technologies, the country’s AI chip unicorn worth $2.5 billion, ahead of the latter’s targeted initial public offering (IPO) on the Nasdaq-style STAR Market.
iFlytek, which was listed on the Shenzhen Stock Exchange, replied to public inquires on late Wednesday that the firm currently holds 1.19 per cent shares in Cambricon, as part of efforts to promote its AI development and investment in the upstream and downstream value chain.
