ICY Tech raises tens of millions of dollars from leading Chinese GPU and robotics companies to develop MRAM-based AI chips
ICY Tech (also known as Hanxu Technology), a Beijing-based startup that develops MRAM-based AI inference chips, announced that it has completed a Pre-A+ funding round worth tens of millions of dollars. A leading Chinese GPU company, a leading embodied robotics company and an established AI company all invested in the round. These strategic investors will also work with ICY Tech as customers and partners, to support its productization and mass production. The investors were not named, and ICY Tech says that it has already started its next funding round.
ICY Tech was established in 2023, based on research at the Applied Magnetism Center of Peking University. Its SpinPU-E “magnetic logic computing” chips store the AI model weights in on-chip MRAM, next to the compute units, to accelerate the memory-bound decode stage of large language model inference. The company compares this approach to Groq’s SRAM-based LPU chips, and says that an MRAM cell (one transistor and one MTJ) offers 5-6 times the density of a 6-transistor SRAM cell at the same process node, so it can reach a high bandwidth using mature 28nm and 22nm processes available in China. ICY Tech also develops SpinPU-M probabilistic computing chips, which use stochastic magnetic tunnel junctions to solve combinatorial optimization problems in applications such as drug discovery, scientific computing and aviation logistics.
Source: https://www.mram-info.com/icy-tech-raises-tens-millions-dollars-leading-chinese-gpu-and-robotics-companies-develop-mram-based
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