AI chip startup sets 1b target

Cambricon Technologies Co, a Chinese artificial intelligence chip startup backed by Alibaba Group Holding Ltd, said on Monday that it aims to have one billion devices using its semiconductor intellectual properties in three years.

The move is part of China's broad push to build world-class AI processor companies that can rival Intel Corp, Qualcomm Inc and Nvidia Corp in future.

Chen Tianshi, CEO of Cambricon, which is valued at $1 billion, said: "We aim to account for 30 percent of China's high-performance AI chip market in three years. The goal is within our reach."