According to Chinese sources, the founder and CEO of Xiaomi Lei Jun (Lei Jun) bought a controlling stake in the Chinese artificial intelligence technology developer CVITEK. The deal led to a change in leadership at the AI development company.
The Chinese manufacturing giant officially became CVITEK’s largest shareholder with a 20.7% stake. It also became known that Lei Jun currently holds the position of one of the managers of CVITEK. The amount of the deal is not disclosed, but it is indicated that Lei Jun’s own share of assets in the company is now 3.07%.
CVITEK designs and develops SoC chips based on artificial intelligence. Unfortunately, the purpose of the agreement between CVITEK and Xiaomi is not specified. Since Xiaomi itself produces products that use machine learning technologies, it is quite likely that along with the purchase of cvitek, the smartphone manufacturer wants to expand its sphere of influence in the field of artificial intelligence technology development. In the future, the possibility of using CVITEK developments as part of Xiaomi products is also not excluded.