Legend Capital Leads TuringQ’s Pre-A Funding
HONG KONG, Nov 12, 2021 - (ACN Newswire via SEAPRWire.com) - On November 10th, TuringQ, China's first photonic quantum computing company, announced its completion of a pre-A round of financing of several hundred million yuan, led by Legend Capital. The funds will be mainly used for R&D and commercialization of quantum algorithms.Recent years see global capital's favor to photonic quantum computing, while 2021 has been regarded as the first year of photonic quantum by the industry. Qihui Fan the Managing Director of Legend Capital, said that Legend Capital has been making systematic planning on core technology. Quantum computing will have a profound impact on many industries and even bring disruptive changes in all walks of life. Many startups and large companies have entered into the market, which helps boost the process of quantum computing from the laboratory to the real market. Legend Capital will help TuringQ further expand its leading advantages and promote the practical application and industrialization of photonic quantum computing.Established in February 2021, TuringQ is committed to the research of quantum information. Through the R&D of lithium niobate on insulato...
SK Hynix Q4 profit surges four-fold on robust chip shipments
SEOUL (REUTERS) - SK Hynix, the world's No.2 memory chip maker, posted a 298 per cent jump in fourth-quarter profit, ahead of expectations, as a better-than-expected rise in chip shipments offset lower chip prices and forecast solid demand this year. For 2021, SK Hynix said demand for server and mobile DRAM products, which go into devices, will remain high as global companies invest in new data centers and due to brisk 5G smartphone shipments. But supplies are expected to fall short of demand as the industry will see limited supply increase, the company said on Friday (Jan 29). In NAND memory chips that serve the data storage market, it expected the market to recover from the second half of the year, as customers use up inventory and start to ramp of their adoption of high-capacity chips. The South Korean company, which counts Apple among its customers, reported an operating profit of 966 billion won (S$1.15 billion) in October-December, up from a low base of 242 billion won a year earlier. That beat a Refinitiv Smartestimate for a 926 billion won profit. The Smartestimate, which gives more weight to consistently accurate analysts, was drawn from 20 analysts. Fourth-quarter revenue...
Huawei plans chip plant in Shanghai to beat US sanctions: Report
BEIJING • Huawei Technologies plans to build a chip plant in Shanghai without using American technology, as China's biggest tech company in terms of sales seeks a new strategy to overcome increasingly tight US sanctions, the Financial Times reported. The fabrication facility is expected to start with the manufacture of low-end 45 nanometer (nm) chips, the paper said yesterday, citing people familiar with the project. Huawei aims to make 28nm chips for Internet of Things devices by the end of next year, and produce 20nm chips for 5G telecommunications equipment by late-2022, the report said. Huawei, the world's largest telecoms equipment maker, has no experience in fabricating chips. The plant would be run by Shanghai IC R&D Centre, a research company backed by the city's government, according to the report. China has laid out a path towards greater economic self-sufficiency in its new five-year plans and vowed to build its own core technologies, saying it cannot rely on buying them from elsewhere. One core area is semiconductors, where China lags behind leading producers including the United States, South Korea and Taiwan. Beijing's aim is to increase the share of Chinese-made chip...