Moffett AI Raises Nearly 1 Billion Yuan in Series C for Sparse Computing AI Chips

Moffett AI, a Chinese AI chip startup founded in 2018, raised nearly 1 billion yuan in Series C funding.

The round was led by Shenzhen Capital Group, Greater Bay Area Homeland Investments, Lidings Capital, and Yunsheng Capital, with existing backers also joining.

Moffett builds sparse-computing AI chips and will use the money to mass-produce its SparsePrime cards and expand its national computing service network.

The funding reflects rising demand for lower-cost AI inference hardware as the market shifts from training to deployment.