Chip Startup Rivos Raises More Than $250 Million to Tap AI Boom [BNN Bloomberg (Canada)]
NVIDIA Corporation (NVDA)
Last nvidia corporation earnings: 2/13 04:20 pm
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Source: BNN Bloomberg
The Santa Clara, California-based company said Tuesday that Matrix Capital Management is the largest investor in the latest round, with new backers including Intel Capital and Taiwan chip design firm MediaTek Inc. participating. Rivos is betting on demand from AI users that don't need the costliest and most powerful chips from the likes of Nvidia Corp. to run their services. The company targets customers using data analytics and generative AI, seeking to capitalize on the rising popularity of AI following the advent of ChatGPT. “We can target potentially smaller installations where Nvidia might seem like an overkill from a cost perspective,” Rivos co-founder and Chief Executive Officer Puneet Kumar said in an interview. “We can go in with a solution that works well enough and can compete quite well.” Rivos's chip uses the open-standard RISC-V, a design competing with Arm Holdings Plc, Kumar said. He declined to give details of its chip structure, timeline for product releases,
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