EVAS Intelligence closes nearly $299M as RISC-V AI chips reach production

EVAS Intelligence builds AI accelerator chips and the software needed to run large models for system makers and data-center operators. The Beijing company completed a B+ financing of nearly $299 million, Caixin reported, as it scales the Epoch product line.

According to EVAS’s product materials, a buyer can bring a model through supported AI frameworks; the company’s compiler and software stack translate that work for its processors. ELink technology connects chips and cards inside larger computing systems, while separate tools help developers debug code and analyze performance.

EVAS pairs the open RISC-V instruction set with a proprietary virtual instruction layer and specialized computing hardware. RISC-V supplies general-purpose programmability, while dedicated tensor and vector units handle the matrix-heavy work behind AI models. The commercial package therefore extends from processors to compilers, networking and diagnostic tools.

The business began with automotive AI chips before widening its focus to cloud computing. Caixin reported that EVAS introduced Epoch in August 2025 and has since started volume production; the publication said the company claims orders from system vendors, internet companies, data centers and other industry customers. It did not name those buyers.

More than 20 institutions joined the financing, including Huatai Innovation, Eastern Bell Venture Capital, China Fortune-Tech Capital, Andon Health and Tongfu Microelectronics. S&P Capital IQ reported that EVAS issued convertible preferred shares, while Caixin put the post-money valuation near $2.24 billion. Figures are in US dollars, converted at September 18, 2026 reference rates.

This is EVAS’s second large financing in five months: its website records an April Series B of about $224 million. Jiemian News reported that the first Epoch generation had entered volume production and customer delivery, while the next cloud chip had completed tape-out. Tape-out means a design is ready for manufacturing, not that the resulting chip is already shipping.