Jinan-based Rongming Microelectronics was recognized as a gazelle company on the Hurun Future Unicorns – Global Gazelles Index 2024 list released by the Hurun Research Institute on Jan 8.

The index highlights high-growth companies worldwide that were established after 2000 and are most likely to achieve "unicorn" status with a valuation of $1 billion within three years. These companies are commonly referred to as gazelle companies.

As of Oct 31, 2024, a total of 525 gazelle companies worldwide were included in the list, according to the Hurun Research Institute, a 17 percent increase from the previous year.

Rongming Microelectronics is a high-tech enterprise focused on the design and development of video processing chips (VPUs). The company was founded in 2015 and was originally headquartered in Canada before relocating to Jinan, Shandong province, in 2021.

The second-generation VPU chip, known as Quadra and released by Rongming Microelectronics in 2022, is the world’s first data center-grade hardware encoding chip to support the AV1 encoding format.

Rongming Microelectronics also received an award at the 75th Technology & Engineering Emmy Awards in 2024, alongside AMD, Google, and Meta, for its outstanding achievements in the design and deployment of efficient hardware video accelerators for the cloud.