Kuaishou chip spin-off TranStreams raises Series A+ funding amid US export controls

This week, TranStreams, a chip subsidiary of Kuaishou, a prominent Chinese short video company, secured an undisclosed sum in a Series A+ funding round led by QF Capital. Additional investors included a state-supported investment entity linked to the Beijing Science and Technology Innovation Fund, Baidu's investment division, and XGD, a digital payment technology firm from Shenzhen. This investment highlights the increasing confidence among investors in Chinese tech firms that are creating their own semiconductors to lessen dependence on foreign technologies, especially in light of US export restrictions and rising AI demands. TranStreams, which originated from Kuaishou's chip and computing division founded in 2018, was officially spun off in March 2024 to concentrate on its SL200 system-on-chip for AI inferencing and video processing. Kuaishou also intends to separate its Kling AI video creation division.