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AI chip startup Blaize goes public via $1.2B SPAC merger - SiliconANGLE

Jan 15, 2025 - siliconangle.com
Blaize Holdings Inc., an AI chip startup, is going public through a $1.2 billion SPAC merger with BurTech Acquisition Corp., owned by Burkhan World Investments. This move allows Blaize to access public markets without a traditional IPO. The company, based in El Dorado Hills, California, has previously raised over $300 million from investors like Samsung Electronics. Blaize's flagship product, the Blaize 1600 system-on-chip, is optimized for machine learning and can handle AI and non-AI workloads on the same processor. The company aims to expand its product portfolio and enhance its AI development software now that it is publicly traded.

Blaize reported a loss of $87.6 million on $3.8 million in revenue for the year ending December 31, 2023, but anticipates increased sales through deals with various industries. It has a significant purchase order from an unnamed EMEA defense entity and partnerships with companies like Denso Corp. and Mercedes-Benz. The chipmaker plans to collaborate with hardware manufacturers to boost commercialization efforts and establish a presence in more verticals.

Key takeaways:

  • Blaize Holdings Inc. is going public via a $1.2 billion SPAC merger with BurTech Acquisition Corp.
  • The company's flagship product, the Blaize 1600, is a system-on-chip optimized for machine learning workloads and can perform AI and non-AI tasks on the same processor.
  • Blaize reported a loss of $87.6 million on $3.8 million in revenue for the year ended Dec. 31, 2023, but has a purchase order worth up to $104 million from an unnamed EMEA defense entity.
  • Post-public listing, Blaize plans to expand its product portfolio, enhance its AI development software, and partner with hardware manufacturers to support commercialization efforts.
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