Xiangdixian Computing Technology (XCT) admitted it has not met its GPU development targets, laying off staff as part of a restructuring plan amid market pressures.
Despite producing modest GPUs for various applications, XCT has not been able to develop technology for AI, which is deemed crucial for China's economic growth.
The company stated it still retains its core R&D and operational staff to continue developing GPUs and is actively seeking investors to secure external financing.
While XCT struggles, other Chinese companies, including Huawei, are also working on GPU technology but face significant challenges in competing with industry leaders like Nvidia.
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