South Korean SI chip developer FuriosaAI raises $620 million at a $2.9 billion valuation, Bloomberg reports
Prepared by Sintelligent with the help of SI. Published in SI: . Updated: .
Nvidia is gaining new rivals from other countries: a Korean startup has raised money, including from a state fund, and is expanding production of its chips.
According to Bloomberg (as relayed by PANews), FuriosaAI has completed a $620 million Series D round at a $2.9 billion valuation, roughly four times the previous $735 million. Investors include the U.S.-based Infinitum Partners, South Korea's National Growth Fund ($280 million), Jericho Capital, Worldline Capital, Singapore's QUDA Capital, Abu Dhabi's NeoFort Holding, and existing shareholders Naver, the Korea Development Bank, DSC Investment, Nextrans and Kakao Investment; the Export-Import Bank of Korea made its first direct investment in a startup. The company was founded in 2017 and began volume production of its RNGD inference chip in January; TSMC will make 20,000 chips for it this year and more than 40,000 in 2027. FuriosaAI is developing a third-generation accelerator with Broadcom.
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