Yixing Intelligence Raises RMB 2B Series C+ for RISC-V AI Compute Chips

Yixing Intelligence Secures RMB 2 Billion Series C+

Guangzhou-based chip designer Yixing Intelligence (奕行智能, also known as EVAS Intelligence) has raised RMB 2 billion in Series C+ funding, according to a filing dated September 18, 2026. The round drew participation from a broad syndicate of strategic and financial investors, underscoring continued appetite for domestic AI compute silicon in China.

What the Company Does

Yixing Intelligence builds full-stack RISC-V AI computing chips and platforms targeting intelligent vehicles, data centres and AI inference workloads. Its flagship Epoch series pairs a TPU-like compute fabric with the open-source RISC-V instruction set, and natively supports FP8 as well as FP4 / MXFP4 low-precision formats. The product matrix spans chiplets, PCIe cards, servers and intelligent computing clusters — a breadth that positions the company across both edge and data-centre deployment scenarios.

Founding and Background

The company was founded in January 2022 by CEO Liu Hui, a 20-year semiconductor veteran who previously led product chip R&D at ZTE and served as China GM of US ASIC firm eSilicon. Yixing was seeded by GAC Capital and has since attracted strategic capital from Beijing's municipal industrial-upgrade funds, reflecting backing from both automotive and government-linked sources.

The Investor Syndicate

The Series C+ round includes:

• Hengxu Capital
• Shangqi Capital
• SMIC PE
• Zhongding Capital
• Renai Capital
• Rongyi Capital (容亿资本)
• CTC Capital (和利资本)
• Saiyi Industry Fund (赛意产业基金)
• Huatai Innovation (华泰创新)
• Jiuan Medical (九安医疗)
• Tongfu Microelectronics (通富微电子)
• Xinxin Leasing (芯鑫租赁)
• Jianguang Zhanlu (建广湛卢)

No lead investor was disclosed. The presence of semiconductor-focused names such as SMIC PE and Tongfu Microelectronics, alongside financial and industrial funds, suggests the round was structured to deepen supply-chain and manufacturing relationships as well as provide growth capital.

Why It Matters

RISC-V-based AI compute is a strategically important segment in China, where demand for inference silicon continues to grow across automotive, cloud and edge applications. Yixing's native support for low-precision formats like FP8 and FP4 / MXFP4 aligns with industry trends toward more efficient inference. The company's full-stack approach — from chiplets to clusters — gives it multiple potential entry points into customer deployments.

Acquisition Angle

For acquirers, Yixing Intelligence represents a rare combination of RISC-V architecture expertise, low-precision AI compute IP and a product portfolio spanning chiplet, card, server and cluster form factors. The Series C+ round, at RMB 2 billion, signals late-stage maturity and significant capital backing. Strategic buyers in automotive, data-centre or semiconductor manufacturing could view the company as a route to vertically integrate AI compute capabilities, particularly given the involvement of investors with manufacturing and automotive ties.

What to Watch

• Commercial traction for the Epoch series across automotive and data-centre customers
• Further product announcements around chiplets and intelligent computing clusters
• How the expanded investor base influences manufacturing and go-to-market partnerships

Yixing Intelligence remains privately held following the round. No valuation was disclosed.