MTS to invest in Kneron in a $10m deal.

Mobile TeleSystems, a Russian mobile operator and a provider of media and digital services, agreed to invest in Kneron, an AI chip developer, in a $10m deal. “Today, the world is facing a global AI chip shortage and there are only a handful of companies that produce them. According to our estimates, looking ahead we expect the global AI chip market to grow around 25% annually, which makes Kneron a particularly attractive investment. Moreover, improving access to cutting-edge processors will enable us to speed up the development of AI-based products for the local market,” Alexander Khanin, MTS Head of AI Center.