Sunrise
Sunrise was spun off from SenseTime in late 2024 and is led by former Baidu VP Wang Zhan and industry veteran Wang Yong. The company develops AI inference graphics processing units, releasing the Qiwang S3 in January 2026, which uses LPDDR6 memory and is claimed to cut power consumption by about 50% while boosting performance roughly fivefold over its predecessor. Sunrise says the S3 also delivers substantial cost advantages versus prior generations. The company plans to scale mass production of the S3 and to develop subsequent chips named S4 and S5. Financially, Sunrise has raised about ¥4 billion across seven rounds since the spinoff, including the latest >¥1 billion round. The raise and product roadmap come amid strong market demand for inference computing, which industry reports project will outpace training demand in 2026.
Founded by Xu Bing (Founder, Chairman), Wang Zhan (Co-CEO), Wang Yong (Co-CEO)
| Round | Announced | Raised | Post-money |
|---|---|---|---|
| Round | Aug 28, 2026 | $296.9M | $3B |
| Round | Apr 20, 2026 | $146.4M | $1.5B |
| Round | Jan 22, 2026 | $429.9M | — |
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Data as of Oct 16, 2026. Valuations are estimates blended from primary and secondary-market signals — not investment advice.