News Chinese GPU-maker XCT, once valued at $2.1B, is on the verge of collapse — shareholders now suing founder

[Admin]

Xiangdixian Computing Technology (XCT), the company behind China's homegrown Tianjun GPUs, is reportedly facing financial trouble after laying off employees and being sued by its shareholders.

Chinese GPU-maker XCT, once valued at $2.1B, is on the verge of collapse — shareholders now suing founder : Read more

 

[Sluggotg]

I think the numbers are a bit off in this article. "for failing to raise the 500 million Yuan (more than $70B)", then it says, "failing to pay 18.8 million Yuan (almost $2.7 million)". The current exchange rate is about 7 Yuan to one Dollar. The second part is correct but the first one should have been "More Than $70 million. It happens. Maybe you could verify and edit the article.