Why is Xiaomi doubling down on in-house chips despite profit slump?

Xiaomi’s long-term push into proprietary silicon is laying the groundwork for complex Artificial Intelligence workloads on smartphones and cars, analysts say, as the Chinese tech giant doubles down on self-developed chips despite an earnings slump and soaring component costs.On Monday it unveiled its flagship Xring O3 3-nanometre AI processor for smartphones, which is scheduled to debut in September aboard its Xiaomi-18-fold" class="entity-link entity-topic" data-entity-id="192802" data-entity-type="topic">Xiaomi 18 Fold smartphone.The company has also introduced the Xring O100 – a 6nm AI accelerator designed to boost Xiaomi’s MiMo large language model when paired with the O3 – alongside a 3nm Xring D100 chip for autonomous driving. Xiaomi said both the O100 and D100 will be deployed commercially next year.