China laid out seven “frontier” technologies in its 14th Five Year Plan. These are areas that China will focus research on and include semiconductors and brain-computer fusion.

Yuichiro Chino | Moment | Getty Images

And e-commerce giant Alibaba took the wraps off its own piece of silicon designed to go into servers in a data center.

Food delivery giant Meituan is the latest big technology company to invest in a chip company with its backing of Axera.

Axera’s products are focused on AI chips for the field of computer vision. This relates to the way that computers can analyze and process large amounts of images and could be used in areas such as facial recognition. But this requires large amounts of computing power that can be aided by specialized computer vision chips.

The start-up has launched two chips since it was founded in May 2019. Axera says that its chips can be used in applications such as so-called smart cities and smart homes. The new funding will be put toward hiring talent and expanding the company’s business, Axera said.

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