Chinese AI champion iFlytek sets up new entity to expand into semiconductor design

US-blacklisted company iFlytek has set up a new corporate entity to expand into semiconductors and other artificial intelligence-related fields as part of efforts to bolster China’s broader tech self-sufficiency initiatives. The new entity, Shandong Yixun Information Technology, was incorporated last week with a registered capital of 50 million yuan (US$7.1 million), according to the latest information from Chinese corporate data provider Qichacha. The scope of this entity’s operations would...