Bringing a telecom operator, a server maker and chip-equipment suppliers onto the cap table ties China's largest silicon carbide supplier to the AI data-center power chain, beyond its car-industry base.
A fund run by China Mobile has led a funding round of nearly RMB2 billion in Xinlian Power Technology (芯联动力), the silicon carbide chip unit controlled by Shanghai-listed United Nova Technology (UNT). The Series C was announced on November 2, the Shanghai Securities News reported, with China Mobile’s industrial chain-leader fund as lead investor and server maker Inspur, Naura’s investment arm and Konfoong Materials among more than a dozen co-investors.
The round values Xinlian Power Technology at US$2 billion, or about RMB13.3 billion according to 21st Century Business Herald. Silicon carbide is a material for power chips that handle high voltages and frequencies more efficiently than conventional silicon.
The investor list is the news. Xinlian Power Technology’s earlier backers were mostly carmakers and energy companies; this round brings in AI infrastructure companies, and the company says its next growth line is power supplies for AI servers.
A car-chip supplier moves into data-center power
Xinlian Power Technology designs, makes and packages silicon carbide and gallium nitride power chips and modules. Xinlian Power Technology’s silicon carbide business ranks first in China and in the global top five, with about 5% of the world market, according to a 2025 Yole report. It also held 16.9% of silicon carbide power modules installed in China in the first half of 2026, the largest share, according to NE Times data cited by 21st Century Business Herald.
Previous investors included SAIC, Xpeng, Xiaomi, Dongfeng, XCMG, CATL and Sungrow, the newspaper reported. The new round adds a telecom operator in China Mobile, a server maker in Inspur and two semiconductor supply-chain names, Naura’s Nuohua Capital and Konfoong Materials, giving the shareholder base a footprint in communications, computing, power grids, new energy and autos. Sinopec’s hydrogen fund, Yuanjing Capital, Changzhou Xingyu, Cathay Capital, Puchao Capital, CITIC Goldstone, CITIC Securities, Galaxy Yuanhui and CCB Equity also took part, the Shanghai Securities News reported.
Yuan Feng, chairman of Xinlian Power Technology, said the company would consolidate its global position in automotive silicon carbide while making AI server power supplies a new growth curve. Zhao Qi, chairman and general manager of UNT, said Xinlian Power Technology was ready to move toward becoming a global leader in compound semiconductors and that UNT would keep supporting it in manufacturing, research and its partner network.
AI servers need more power per rack
The bet rests on how AI data centers are being rewired. As power systems shift toward high-voltage direct current and solid-state transformers, silicon carbide’s advantages in high-voltage, high-frequency conditions grow, 21st Century Business Herald reported. It said server power supplies above 3 kilowatts are expected to account for 80% of the market, which it described as the next RMB100 billion-scale opportunity.
UNT has been positioning itself for the same demand. In June, it announced plans for a RMB20 billion joint venture in Shaoxing to build a 12-inch mixed-signal chip line, with capacity of 50,000 wafers a month and a 55-nanometer platform for high-frequency power management in AI servers. UNT would put in RMB3.012 billion for a 25.1% stake, Gasgoo reported. EastFrontier previously reported on Chinese silicon carbide makers betting on AI data centers.
The parent company’s results show the scale behind the unit. UNT’s revenue rose 43.09% to RMB7.758 billion in the first nine months of 2026, and net profit attributable to shareholders rose 249.03% to RMB690 million, 21st Century Business Herald reported. UNT shares closed up 4.94% on November 2, giving it a market value of RMB62.3 billion.
Orders from AI customers will show whether the pivot works
Neither report gave a timetable, investment figure or capacity target for the AI server power business, and the companies did not say how the new money would be split between automotive and data-center products.
The test is commercial. Supply agreements with server makers or data-center operators, including the new strategic investors, would show whether Xinlian Power Technology can turn shareholders into customers. Disclosure of the unit’s revenue from AI power products in UNT’s next reports would show how fast the shift is happening.