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Chip Startup Rivos Raises More Than $250 Million to Tap AI Boom [Yahoo! Finance]
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Most Read from Bloomberg Beyond the Ivies: Surprise Winners in the List of Colleges With the Highest ROI Iran's Attack on Israel Sparks Race to Avert a Full-Blown War Apple Faces Worst iPhone Slump Since Covid as Rivals Rise Tesla Executive Baglino Leaves as Musk Loses Another Top Deputy Israel Versus Iran — What All-Out War Could Look Like 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 per
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