Chip Startup Rivos Secures Over $250 Million in Funding Amidst AI Industry Boom
Silicon Valley-based chip developer Rivos Inc. has raised over $250 million, gearing up for its first product launch amid increasing AI hardware demand.
The funding round was led by Matrix Capital Management, with significant contributions from Intel Capital and MediaTek Inc.
Rivos targets AI users needing cost-effective alternatives to high-power chips from major players like Nvidia, focusing on data analytics and generative AI applications.
CEO Puneet Kumar states Rivos's strategy is to serve smaller installations where Nvidia's solutions may be excessive, offering performance without a high cost.
Rivos utilizes the open-standard RISC-V architecture, competing with Arm Holdings, and plans to use Taiwan Semiconductor Manufacturing Co.'s advanced 3NE process technology for production.
The capital infusion will accelerate chip development and deployment, supported by partnerships with VentureTech Alliance, Walden Catalyst, Dell Technologies Capital, and Koch Disruptive Technologies.
Guided by industry veteran Lip-Bu Tan, Rivos benefits from Tan's extensive network and experience in the semiconductor industry.
Rivos recently settled a lawsuit with Apple Inc. over trade secret theft allegations, clearing obstacles for its funding round and future plans.
With strategic alliances, experienced leadership, and advanced technology, Rivos is poised to make significant impacts in the AI hardware market.