Global Big Data Conference

One of China's most valuable artificial intelligence chipmakers Cambricon is one step closer to its initial public offering, and its prospectus reveals a rare snapshot of where Chinese companies stand in relation to their international counterparts in this critical field. Cambricon got the nod in early June to list on the Star Market, China's new Nasdaq-like stock exchange conceived to attract high-potential tech startups. This week, the chipmaker received the final green light from the China Securities Regulatory Commission, the stock market watchdog, for its first-time sale. The company is aiming to raise 2.8 billion yuan ($400 million) from its IPO and spend the proceeds on cloud-based algorithm training and inference, edge computing, and cash flow boost. It was last valued at 2.5 billion yuan in 2018 and expects its market cap to exceed 1.5 billion yuan when it floats.