Alibaba is set to establish a company that specializes in independent research and development as well as strategic implementation of chips, said Zhang Jianfeng, the CTO of China’s multinational e-commerce giant Alibaba, at the 2018 Computing Conference on Wednesday, according to paper.cn.

According to Zhang, who is also the head of Alibaba DAMO Academy, a scientific research institute of Alibaba, the new chip company will create the company’s first neural network chip, which will be the world’s most advanced chip in every aspect.

The Alibaba DAMO Academy will focus its work on the needs of the new chip company and establish a chip strategy that uses the AliNPU smart chip and embedded chip at its core, Zhang disclosed, adding that they will make a real quantum chip within 2 to 3 years.

Moreover, the embedded CK902 series chip, to be launched by Alibaba DAMO Academy, will be China’s first independently developed chip with the capability to support networking security functions.

The Chinese name of the new chip company “Pingtouge” is the brainchild of Alibaba’s Chairman Jack Ma. “Pingtouge” is a nickname of the honey badger, a mammal which inhabits tropical rainforests and grasslands.

It’s said that Ma has insisted on the name “Pingtouge” as he hopes that the new chip company will be fearless and will always pursue what it wants with passion, courage, and wisdom, just like the honey badger.