FanShi AI Buys Huawei Ascend 950 Chips for Over 1 Billion Yuan

FanShi AI, a Hong Kong-listed company, has reached a big deal with Huawei to buy Ascend 950 chips for over 1 billion yuan. These chips will help run AI models in finance and manufacturing. The deal was discussed by FanShi CEO Dai Wenyuan and Huawei executive Yang Chaobin.

Earlier this year, FanShi planned to buy GPU servers for 400 million yuan. In the first half of this year, the company spent 2.237 billion yuan on capital, and its computing power reached 28,000 PFLOPS. This new deal continues that expansion.

People close to the matter say that global high-end chip supply is uncertain, but domestic chips like Ascend 950 are getting better and more affordable. By using Ascend 950 early, FanShi can lead in replacing foreign chips and reduce switching costs.

In the first half of the year, FanShi's API revenue hit 464 million yuan, up 860.8% from last year. Token usage jumped 620%, and orders on hand total about 7 billion yuan. The new computing power will mainly support project delivery and AI product development.