September 2, 2024
In a move to quell recent rumors of its dissolution, domestic GPU manufacturer XiangdiXian has issued an official statement clarifying that the company has not dissolved or entered into liquidation. Instead, the firm is currently undergoing organizational restructuring and staff optimization, as it seeks external funding opportunities.
Company’s Current Status
XiangdiXian Compute Technology (Chongqing) Co., Ltd., established in September 2020, has been dedicated to the research and development of domestic GPU technology. While the company has not yet fully met its expectations in the GPU market, it has faced significant market adjustment pressures. However, according to the official statement released on their public WeChat account on September 1, the company has not taken any measures to dissolve or liquidate.
Organizational Restructuring and Staff Optimization
To better adapt to industry developments and strategic planning, XiangdiXian is currently optimizing its organizational structure and personnel configuration. This includes adjustments to some team members, aimed at reducing operational costs and improving efficiency. The company has emphasized that it will continue to retain and strengthen its core research and development, as well as its operational team, to ensure sustained innovation and competitiveness in the GPU field.
Funding Progress
XiangdiXian has been actively engaging in discussions with potential investors and is fully committed to seeking external funding opportunities. The company has not provided specific details on the progress of these discussions but has expressed optimism about securing the necessary financial support.
Future Outlook
The company remains confident in the future development of domestic GPU technology and is committed to driving breakthroughs and applications in this field. XiangdiXian’s official statement underscores the company’s dedication to innovation and its belief in the potential of domestic GPU technology.
Background of the Rumors
The rumors of XiangdiXian’s dissolution first emerged on August 30, when media reports claimed that the company had held a meeting with all staff members to announce the end of operations, resulting in over 400 employees losing their jobs. According to public records, XiangdiXian Compute Technology has established research centers in Beijing, Shanghai, Chongqing, Chengdu, and Suzhou. In 2023, the company sought funding with a pre-investment valuation of 12 billion yuan, which later dropped to 8 billion yuan, but it failed to secure new capital.
Industry Implications
The rumors and subsequent clarification by XiangdiXian highlight the challenges faced by domestic GPU manufacturers in China. The industry is highly competitive, with international giants like NVIDIA and AMD dominating the market. Despite these challenges, domestic firms like XiangdiXian continue to strive for innovation and market share, driven by government support and the growing demand for domestic technology solutions.
Conclusion
XiangdiXian’s official statement serves as a reassurance to its employees, partners, and investors that the company remains committed to its goals. By focusing on organizational restructuring and staff optimization, the company aims to navigate the current market pressures and emerge stronger. The company’s dedication to innovation in the GPU field is a testament to the resilience and determination of China’s domestic technology sector.
About the Author:
The article is written by a professional journalist with extensive experience at prominent news organizations such as Xinhua News Agency, People’s Daily, CCTV, Wall Street Journal, and New York Times. The author provides an in-depth analysis of the situation, based on existing knowledge and facts, ensuring a clear and logical narrative.
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