Xiaomi Unveils New Self-Developed Chip, Announces $28B in R&D Investments Over 5 Years
On Thursday, Xiaomi Corporation (OTC:XIACY) founder and CEO, Lei Jun, showcased the company's ambitions to expand its technology portfolio by introducing its self-developed mobile chip, the Xring O1.
In a live-streamed event from Beijing, Lei Jun unveiled this chip, which is designed to power a new generation of top-end devices, such as the Tablet 7 Ultra and the Xiaomi 15S Pro smartphone.
A woman using a smartphone to access a service provided by the company.
This 3nm processor is built on TSMC's second-generation N3E process. Lei Jun stated that the Xring O1 is aimed at matching chips from industry leaders like Apple Inc. (NASDAQ:AAPL) and Qualcomm Inc. (NASDAQ:QCOM). While admitting that the Xring might lag Apple's chipsets in some aspects, such as processor speed, he emphasized that its development is still a significant achievement for Xiaomi's design team.
Lei Jun also announced plans to invest 200 billion yuan ($28 billion) in R&D over the next 5 years. The company had previously announced a $7 billion investment to develop and enhance its mobile processors over the next decade. Among other hard-tech initiatives, Xiaomi has touted an in-house LLM dubbed MiMo, which marked the company's first real AI product.
While we acknowledge the potential of XIACY to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than XIACY and that has 100x upside potential, check out our report about the cheapest AI stock.
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Disclosure: None. This article is originally published at Insider Monkey.
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