FuriosaAI raises $620m for its Nvidia rival chips

What happened?

FuriosaAI, a Seoul-based maker of AI inference chips, has raised $620 million in a Series D funding round. The company announced the round in a press release and a blog post.

Valuation and investors

The round values FuriosaAI at about $2.9 billion. South Korea's National Growth Fund contributed $280 million, making it the largest investor.

Why it matters

Inference chips run trained AI models in everyday use. FuriosaAI positions itself as a rival to NVIDIA, the dominant player in this market. The new funding is expected to help the company expand chip development and production capacity.