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American tech giant Xilinx is planning to acquire DeePhi Tech, a Beijing-based AI chip startup, The Paper reported.
Though no financial details have been disclosed so far, industry experts believes that the amount of the deal could be around US$300 million.
The chip startup is a recognized leader in deep learning capabilities, pruning neural networks, compression compiling and system-level optimization.
DeePhi Tech was founded by Yao Song with researchers from Tsinghua University and Stanford University in 2016.
In that short time period, the Beijing-based chip maker has already secured several rounds of financing.
Xilinx and MediaTek were early investors, and in October 2017, Ant Financial and Samsung Ventures led a US$40 million A+ round financing.