South Korean AI chip developer FuriosaAI is seeking $300 million to $500 million in investment, Bloomberg reported on Jan. 20 local time.
FuriosaAI has hired Morgan Stanley and Mirae Asset Securities and is preparing a Series D funding round. A specific valuation was not disclosed. FuriosaAI raised $125 million in July last year, valuing the company at $735 million.
It was also reported to have rejected an $800 million acquisition offer from Meta.
FuriosaAI's core technology is its RNGD chip. While existing AI chips are optimised for matrix multiplication, RNGD supports more efficient computing by using a mathematical technique called tensor contraction.
The funding round is likely to be FuriosaAI's last pre-IPO financing. The company is aiming for an initial public offering in 2027, Bloomberg reported.
Chi-gyu Hwang (황치규)
delight@d-today.co.kr