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Shanghai Yunya Enterprise Management Consulting, a wholly owned subsidiary of Ant Group, recently snapped up a 1.87 per cent shareholding in InnoStar for an undisclosed amount, according to registry records in late August from corporate information provider Aiqicha.
InnoStar had also raised its registered capital to 50 million yuan (US$7 million) from 46 million yuan, following that transaction, Aiqicha data showed.
Ant Group, the fintech affiliate of Alibaba Group Holding, did not immediately respond to a request for comment on Tuesday. Hangzhou-based Alibaba owns the South China Morning Post.
The fintech company’s latest initiative reflected efforts by Chinese Big Tech companies to increase their adoption of mainland-designed chips amid US tech restrictions.
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That comes months after Ant Group revealed it was able to train large language models using Chinese-designed artificial intelligence chips, which helped cut training costs by 20 per cent, while reducing the firm’s reliance on Nvidia’s graphics processing units (GPUs).
Ant Group acquires stake in Chinese memory chip firm InnoStar
