Axelera lands new funds as the AI chip market heats up [TechCrunch]
SOFTBANK GRP UNSP/ADR (SFTBY)
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Source: TechCrunch
And major players, from VCs to startups, are scrambling to get in on the ground floor. SoftBank's Masayoshi Son is reportedly looking to raise $100 billion for a chip initiative that would compete with tech giant Nvidia. OpenAI, meanwhile, is said to be in talks with investment firms to launch an AI chip-making venture. AI chip startup Axelera has kept a comparatively low profile. Nevertheless, it's managed to win over backers including Samsung in part by focusing on a niche within the burgeoning AI chip market: chips that run AI on edge devices “There's no denying that the AI industry has the potential to transform a multitude of sectors,” Fabrizio Del Maffeo, one of the co-founders of Axelera and its CEO, told TechCrunch in an interview. “However, to truly harness the value of AI, organizations need a solution that delivers high-performance and efficiency while balancing cost.” Axelera — headquartered in the Netherlands, with a roughly 180-person workforce spread across offi
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