Home / Business and Economy / AI Chip Startup Raises $475M at $4.5B Valuation
AI Chip Startup Raises $475M at $4.5B Valuation
8 Dec
Summary
- A new AI startup has secured $475 million in seed funding.
- The company was valued at $4.5 billion during its funding round.
- The startup is developing energy-efficient computer hardware for AI.
A nascent startup, established just two months ago by a prominent figure from Databricks Inc., has successfully closed a substantial seed funding round. The venture, spearheaded by Naveen Rao, who previously led AI efforts at Databricks, has garnered $475 million from investors.
This impressive capital infusion has propelled the company to a remarkable valuation of $4.5 billion. The funding round was co-led by prominent venture capital firms Andreessen Horowitz and Lightspeed Venture Partners, with participation from Lux Capital and DCVC. Notably, Amazon founder Jeff Bezos also contributed to the round, alongside a significant personal investment from Rao himself.
The core objective of this newly funded entity is to pioneer the development of innovative computer hardware. The focus is on creating systems that are considerably more energy-efficient, addressing a critical need in the rapidly expanding field of artificial intelligence.
