However, Rivos faces stiff competition in the chip market, with big tech firms like Google, Amazon, and Microsoft developing their own in-house chips for AI and big data analytics. The custom data center chip market is expected to reach $10 billion this year and double by 2025. Despite the competition, Rivos CEO Puneet Kumar believes the company is well-positioned to expand manufacturing and double down on platform and software engineering.
Key takeaways:
- Rivos, a chip-making company, has raised over $250 million in an oversubscribed, extended Series A funding round led by Matrix Capital Management, with participation from Intel, MediaTek, Cambium Capital, Hotung Venture Group, Walden Catalyst, Dell Technologies Capital, and Koch Disruptive Technologies.
- The company aims to build chips primarily for servers that can handle intensive data analytics and AI workloads, including generative AI workloads. Its first chipset is built on RISC-V, the open standard instruction set architecture (ISA).
- Rivos is also working on self-contained data center hardware based on the Open Compute Project modular standard, and a “firmware-to-app” software stack for programming the chip. The company plans to make money by charging customers for its hardware and complementary software solutions.
- The company faces stiff competition from big tech firms like Google, Amazon, and Microsoft, which are developing their own in-house chips for AI and big data analytics. The custom data center chip market could reach $10 billion this year and double by 2025.