ByteDance invests in domestic memory chip company

ByteDance has reportedly invested in Xinyuan Semiconductor, a domestic memory chip company, and has become the company's third largest shareholder. Xinyuan Semiconductor focuses on the research and development of new ReRAM storage technology and related chip products, with products covering three major application areas: high-performance industrial control/automotive SoC/ASIC chips, computing in memory (CIM) IP and chips, and system-on-memory (SoM) chips.