Samsung and two domestic startups have joined forces to develop and manufacture a neural network processing unit (NPU) capable of conducting AI-powered transactions of stocks.
The design of the AI chip was outsourced by Qraft Technologies to fabless startup Rebellions. The latter company was founded in 2020 by engineers from SK Hynix and Samsung Electronics, but it’s fabless, meaning it designs chips but doesn’t have the necessary facilities to manufacture them.
Qraft Technologies and Rebellions came to Samsung for the AI chip’s manufacturing. The Korean tech giant reportedly accepted their proposal, and as a result, Samsung will be responsible for manufacturing the AI chip using its 5nm processes.
Predicting Tesla’s stock prices through AI
Qraft Technologies uses only AI to operate four ETFs (exchange-traded funds) on the New York Stock Exchange, and the startup became known for its excellent predictions of Tesla’s stock prices. Since the start of 2021, its four AI-powered ETFs have posted returns of 16.21%-19.85%.
However, the startup is now facing limitations due to computational hurdles. The company wants to expand its scope, but certain problems require higher computational power. Qraft Technologies wants to address these limitations through its new AI chip manufactured by Samsung.
Rumor has it that the AI chip in question will quadruple AI computational speed and reduce power consumption to one-tenth of Qraft Technologies’ ongoing solution. The chip is expected to enter production next year.