FuriosaAI Raises $125 Million in Bid to Become Nvidia Challenger

FuriosaAI Inc., the Seoul-based semiconductor startup seeking to challenge Nvidia Corp., secured $125 million in a financing round to accelerate production of its artificial intelligence chip.

The round exceeded its target of about $80 million and drew investors including the Korea Development Bank, Industrial Bank of Korea, Keistone Partners and Kakao Investment, the company said in a statement. FuriosaAI’s latest valuation stands at $735 million.

FuriosaAI plans to use the fresh capital to fund the production ramp-up of its AI inferencing chip, RNGD — pronounced “renegade” — at Taiwan Semiconductor Manufacturing Co.’s facilities ...