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Stock impact report

SiMa.ai Secures Funds and Readies New Generative Edge AI Platform [Yahoo! Finance]

Synopsys, Inc. (SNPS) 
Last synopsys, inc. earnings: 2/19 04:05 pm Check Earnings Report
Company Research Source: Yahoo! Finance
SAN JOSE, Calif., April 04, 2024 BUSINESS WIRE )--SiMa.ai, the software-centric, embedded edge machine learning system-on-chip company, today announced it has raised an additional $70M of funding led by Maverick Capital, with participation from Point72 and Jericho, as well as existing investors Amplify Partners, Dell Technologies Capital, Lip-Bu Tan and others. SiMa.ai will utilize the $270M raised to date to continue meeting customer demand for edge AI/ML with its first-generation Machine Learning System-on-Chip (MLSoC) while accelerating the delivery of its second-generation MLSoC for release in Q1 of 2025. With the release of the second-generation MLSoC, SiMa.ai will unveil one software-centric platform for all edge AI . SiMa.ai's ‘one platform for all edge AI' scales with customers as their AI/ML journey evolves, from computer vision, to transformers to multimodal generative AI. The rapid proliferation of generative AI is simplifying the way we interact with AI/ML, namely thr Show less Read more
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