China Demonstrates Quantum Supremacy; VOLO Tops ImageNet; Uncrewed Excavator

China’s AI news in the week of July 4, 2021

Better than Google? Chinese scientists demonstrate Quantum Supremacy

VOLO: Transformer outperforms CNN without extra data

Baidu AI can operator excavators without human

Investment news

  • Merely four days after raising $4.4 billion in the IPO on Wednesday, June 30, Chinese ride-hailing giant Didi Global faced a cybersecurity review by Chinese regulators along with a halt of new registrations. On Sunday, the Chinese regulators further ordered app stores to remove the Didi Chuxing app over an alleged illegal collection of users’ personal data.
  • Chinese CPU designers Loongson Technology filed for an IPO on Shanghai’s STAR Market, seeking to raise RMB 3.5 billion yuan (~$544 million) which will be used for R&D in chip process and high-performance graphic chips and systems. Founded in 2010, Loongson Technology has for years been developing general-purpose MIPS64 CPUs. The company recently announced it had introduced its own CPU instruction set architecture (ISA), Loongson Architecture (LoongArch). The first processors based on LoongArch have already been taped out and will be released this year.
  • Chinese AI unicorn YITU Tech has withdrawn from an IPO on Shanghai’s STAR Market, which was supposed to help the company raise RMB 7.5 billion yuan (~$1.16 billion). YITU filed a Chinese Depositary Receipt offering on Shanghai’s STAR board in November, but then applied to terminate its IPO application on March 11. The company resumed its IPO approval process in June but soon applied for IPO termination. Founded in 2012, YITU provides AI solutions along with high-performance computing power in smart city, healthcare, and intelligent business.

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