Chip Startup Rivos Raises More Than $250 Million to Tap AI Boom
Apr 16, 2024 - bloomberg.com
Silicon Valley-based Rivos Inc. has raised over $250 million as it develops its first product aimed at meeting the demands of artificial intelligence. The company's largest investor in this latest funding round is Matrix Capital Management, with additional contributions from new investors such as Intel Capital and Taiwanese chip design firm MediaTek Inc.
The significant funding underscores the growing push for new hardware in the artificial intelligence sector. Rivos Inc., a chip developer, is based in Santa Clara, California, and is working towards the launch of its inaugural product.
Key takeaways:
Silicon Valley chip developer Rivos Inc. has raised over $250 million for its first product.
The fundraising underscores the push for new hardware to meet the needs of artificial intelligence.
Matrix Capital Management is the largest investor in the latest round of funding.
New backers in this round include Intel Capital and Taiwan chip design firm MediaTek Inc.
