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Chip Startup Rivos Raises More Than $250 Million to Tap AI Boom

Annelise Sylta

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Rivos Inc., a Silicon Valley startup, has raised over $250 million. This funding is intended to launch their first product. They are creating new hardware for AI, which is attracting increasing attention.

Matrix Capital Management led this investment round and is now the largest supporter of Rivos. Intel Capital and MediaTek Inc., a chip designer from Taiwan, also contributed. Other significant participants include Cambium Capital, CIDC, Capital TEN, and Hotung Venture Group. Previous backers like Walden Catalyst, Dell Technologies Capital, Koch Disruptive Technologies, and Venture Tech Alliance continued their support.

Rivos’s Strategic Focus

Rivos was established in 2021 with a clear focus. They are dedicated to crafting chips that support RISCV and handle complex AI tasks. Puneet Kumar, the CEO, noted their target audience. They aim at users who need robust, yet affordable AI chips. He mentioned a cheaper alternative to expensive options from giants like Nvidia Corp.

“Our goal is to roll out gear that runs smooth for the little guy,” Kumar said. “There’s no need to go for broke with top-shelf tech.”

Their top priority is to release products that compete well and integrate seamlessly with existing tech setups.

Technical Progress and Business Growth

Rivos’s next chip will utilize TSMC’s advanced 3nm process technology. But Rivos isn’t just focusing on hardware. They are also developing an open software stack. This will support their computing platform and enhance the Data Parallel Accelerator compatibility.

Rivos designs their products with a unified memory system. This system uses both DDR and HBM memory, catering to programs that require substantial memory space.

The company has teams across the globe, including in the US, UK, EU, and Asia. They are actively hiring more experts to expand their team.

Future Prospects and Market Impact

David Goel from Matrix Capital Management is impressed with Rivos. He believes they could revolutionize data analysis and AI technology. “Rivos’ skill at blending new design ideas with advanced tech lays a solid groundwork for growth and becoming a leader in the industry,” Goel remarked.

Rivos is also a leader in RISC V efforts and helps shape global chip system standards and security. Calista Redmond, the community’s CEO, acknowledged Rivos’s impact. “They’ve made significant progress in tech development,” she said.

Making Sense of Rivos’s Plan

In an ultra-competitive field, Rivos stands out with its open source RISCV designs. This approach allows more developers and businesses to use its technology. It aims to disrupt the dominance of closed-off tech like Nvidia’s by offering adaptable solutions.

Rivos’s chip design is highly flexible. It can be adjusted for a range of data-heavy tasks, from standard computing to complex AI-driven analysis. This adaptability is crucial as demand for AI features grows.

Various industries, including healthcare, finance, and automotive, are taking notice of Rivos’s capabilities.

Challenges and Expectations

Rivos is set to make a big splash, but the journey won’t be easy. They face stiff competition from established chipmakers. However, they are not short on funds or ambition. They have a solid action plan to rapidly grow and meet their customers’ needs.

The tech world is eagerly watching to see if Rivos will disrupt the AI chip market.

Conclusion

This significant financial boost isn’t just a milestone for Rivos; it signals a shift towards more flexible and cost-effective AI technology in the market. With strong financial backing and a focused vision, Rivos is poised to make a lasting impact.

Anne Lise is an MBA graduate with a passion for doing business research and fashion reviews. She has been with Busybodytribune for over 4 years now, and is the lead editor for the magazine.

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