Russian major mobile operator MobileTelesystems (MTS) and its Artificial Intelligence Centre subsidiary will invest $10mn in an artificial intelligence (AI) chip developer Kneron, Prime reported.
As followed by bne IntelliNews, microchip supply problems have become a global issue amid the coronavirus (COVID-19) pandemic, already affecting supply chains worldwide.
"Today, the world is facing a global AI chip shortage and there are only a handful of companies that produce them. According to our estimates, looking ahead we expect the global AI chip market to grow around 25% annually, which makes Kneron a particularly attractive investment," MTS AI Centre head Alexander Khanin said as cited by Prime.
"Going forward, we plan to continue investing in promising AI-focused teams and technologies as part of our venture fund, corporate accelerator and venture studio," he added.
The Kneron group of companies is a high-tech developer and seller of hardware and software to run AI applications for smart devices at high speed and energy efficiency. The start-up was founded in 2015 by engineers from leading microelectronics companies, including Qualcomm and Samsung.
Previously in 2020 MTS said it would adopt a new AI strategy and develop AI products and solutions together with VisionLabs and other assets of multi-industry investment conglomerate AFK Sistema.
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