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Xiaomi Founder Lei Jun acquires controlling stake in AI chip developer CVITEK

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Earlier today (3rd February 2021), a new report surfaced that revealed that the Founder and CEO of Xiaomi has acquired stakes in a Chinese artificial intelligence development based firm called CVITEK. This led to a business change within the company with the smartphone maker’s senior official having a controlling stake within the AI developer.

Xiaomi

As per new information from QCC, the Chinese tech giant has officially become CVITEK’s largest shareholder, with a shareholding ratio and a final benefit ratio of 20.7 percent. Furthermore, the information has also revealed that the most prominent position of the company has now been changed to Lei Jun, Xiaomi’s Chairman, Founder, and CEO. The senior official now has a total equity ratio of 3.07 percent.

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For those unaware, CVITEK is a company that focuses on the design and development of aritificial intelligence based SoC chips. Unfortunately, we have no means on knowing what the company aims on achieving by acquiring majority stake in the business. Although, Xiaomi is a technology based brand, so we can assume that this is one of its attempt to broaden its horizon and deepen its research and development into the artificial intelligence field.

Xiaomi

In other words, the smartphone manufacturer might be looking to have this company help develop future technology that might even be integrated into its own product offerings. However, that is just speculation at this point so take it with a pinch of salt and stay tuned for more, as we will be providing more updates if there are any interesting development regarding this matter.

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