Search results for Seligman Ventures
AI & Enterprise
Lumilens raises over $700 million at $5.5 billion valuation, aims to replace copper interconnects in data centers
Second-year startup Lumilens has raised more than $700 million at a $5.5 billion valuation, the Wall Street Journal reported. Atrades Management, Bain Capital Ventures, MeritTech, Seligman Ventures and Spark Capital co-led the round, taking total funding above $900 million. The company has begun shipping equipment to an unnamed hyperscaler and contracts could be worth billions of dollars over the next few years. Lumilens aims to replace copper wiring with optical interconnects.
AI & Enterprise
UpscaleAI raises $190 million to speed development of AI switch chip
Datacenter networking startup UpscaleAI has raised an additional $190 million in funding, SiliconANGLE reported on June 22. The round was led by Premji Invest, with participation from Nvidia, Salesforce Ventures, Seligman Ventures and Temasek. UpscaleAI is developing scale-up and scale-out switches optimized for AI workloads. It is focusing on its in-house Skyhammer chip to address delays caused by slow data exchanges between GPUs.
AI & Enterprise
AI startup Cognichip draws investment to cut chip design time
Efforts to use artificial intelligence to shorten lengthy and costly semiconductor design processes are gaining momentum. Cognichip, which develops AI models for chip design, has raised $60 million in new funding led by Seligman Ventures, with Intel CEO Lip-Bu Tan participating via his venture fund and joining the board. The company says its approach could cut chip development costs by more than 75 percent and reduce development time by over half, though it has not disclosed chips or customers.