Recently, sources revealed that Horizon, a Chinese artificial intelligence chip start-up, is considering an initial public offering (IPO) in the United States, or raising US$1 billion, and may go public as early as the end of this year.

People familiar with the matter said that Horizon is preparing for the stock issuance with consultants. Because the transaction is still in the negotiation stage, the IPO transaction location and time are only preliminary information.

Horizon declined to comment at this time.

Founded in 2015, Horizon produces artificial intelligence chips for self-driving cars and equipment, and also designs customized software for these chips. The company's partners include Volkswagen Audi, BYD, SAIC and Bosch.

Earlier this year, Horizon raised $400 million in a funding round from investors including Yunfeng Capital, CATL, Baili and CITIC Industrial Fund.

In 2019, Horizon CEO Yu Kai stated at the China Integrated Circuit Conference that he planned to list on the Shanghai Science and Technology Innovation Board within three years.

In April this year, China's securities regulators tightened the listing rules for technology companies and updated valuation conditions (such as R&D skills, patents, revenue growth and innovation capabilities), causing many companies to withdraw their IPO applications, and some companies planned to list in Hong Kong instead.

Stock Exchange or New York Stock Exchange.